Central banks, markets must cut ratings reliance: FSB

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The Financial Stability Board (FSB) on Wednesday issued principles to help cut reliance on credit ratings agencies, calling for central banks and regulators to set an example by using their own objective standards when assessing creditworthiness.

The Basel-based board said officials should look to remove credit ratings from risk assessment frameworks or replace them wherever possible. However, the FSB said, an alternative measure of credit risk must be safely adopted first. "It is particularly p

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