FSB issues peer review on ‘uneven' progress to end credit ratings reliance

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The Financial Stability Board (FSB) today warned of the risk of countries replacing their "mechanistic reliance" on credit rating agencies (CRAs) "with mechanistic reliance on a very limited number of alternative measures", in a peer review of the actions FSB members are taking to reduce reliance on credit rating agencies.

The report assesses member-country progress along a roadmap agreed in October 2012, based on a set of ‘principles for reducing reliance on CRA ratings' drawn up by the FSB in

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