The report examines the steps taken or planned by national authorities to address Financial Sector Assessment Program (FSAP) recommendations concerning financial regulation and supervision as well as institutional and market infrastructure.
The goal of the principles is to reduce mechanistic reliance on CRA ratings and to incentivise improvements in independent credit risk assessment and due diligence capacity.
At its meeting in Paris today, the FSB reviewed risks and vulnerabilities affecting the global financial system and progress on the regulatory reform agenda under coordination by the FSB.