Use of OECD ratings in US market risk proposals questioned

question mark

US regulators might have backed the wrong horse in their efforts to find a replacement for sovereign credit ratings in trading book capital rules, a Dodd-Frank Act requirement. The alternative they picked in their December 7 proposals – the country risk classifications (CRCs) produced by the Organisation for Economic Co-operation and Development (OECD) – is a measure of currency convertibility risk, rather than credit risk.

"The CRCs are meant to reflect transfer and convertibility risk and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free registration? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here