This report describes the second and final stage of thematic review focused on the action plans developed by national authorities to implement the FSB 2012 roadmap for reducing reliance on CRA ratings.
This report summarises the main findings and recommendations of the interim peer review and updates on IOSCO's work to improve transparency and competition among CRAs.
The interim report includes a structured stock-taking of references to CRA ratings in national authorities' laws and regulations and of actions taken and underway to reduce those references.
The roadmap sets clear timelines for concrete action to reduce mechanistic reliance on CRA ratings and for authorities to promote and strengthen own credit risk assessment approaches.