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.
The report finds that Mexico has made impressive progress in recent years in upgrading its financial regulatory and supervisory framework to bring it further in line with international standards and good practices.
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.
The FSB reported to G20 Leaders on the progress and remaining challenges in the implementation of the G20 recommendations for strengthening financial stability, including efforts to reduce the moral hazard posed by SIFIs.
This report finds that significant progress has been made in incorporating the FSB Principles and Standards into domestic regulatory and supervisory frameworks.