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12 May 2014 FSB Member Jurisdictions' Action Plans to Reduce Reliance on CRA Ratings
Action plans to reduce mechanistic reliance on CRA ratings have been developed across the FSB membership, representing a significant step towards implementing the FSB roadmap agreed in October 2012. -
12 May 2014 FSB publishes Thematic Peer Review on Reducing Reliance on CRA Ratings
The FSB published today the final peer review report on national authorities' implementation of the FSB Principles for Reducing Reliance on CRA Ratings. -
12 May 2014 Thematic Review of the FSB Principles for Reducing Reliance on CRA Ratings – Final Report
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. -
12 May 2014 Thematic Review of the FSB Principles for Reducing Reliance on CRA Ratings (final report)
Reliance on external credit ratings to the exclusion of internal credit assessments can be a cause of herding behaviour and of abrupt sell-offs of securities when they are downgraded ("cliff effects"). These effects can amplify procyclicality and cause systemic disruption. Good progress has been made toward removing references to CRA ratings from laws and regulations, […]