Speech given by Sir Jon Cunliffe, Deputy Governor Financial Stability of the Bank of England, at the Barclays European Bank Capital Summit in London, United Kingdom.
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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.
FSB publishes thematic peer review report on reducing reliance on credit rating agency (CRA) ratings
12 May 2014
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
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
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, […]
8 May 2014
Remarks by Daniel K. Tarullo, Member Board of Governors of the Federal Reserve System at the Federal Reserve Bank of Chicago.
7 May 2014
The Danmarks Nationalbank hosted the sixth meeting of the FSB Regional Consultative Group for Europe in Copenhagen, Denmark.