US regulators assess rating agency alternatives

sheila-bair-fdic-2010

WASHINGTON, DC – Banking regulators in the US have issued an advanced notice of proposed rulemaking (ANPR) to provide alternatives to the use of credit rating agencies within the framework of risk-based regulatory capital requirements. Federal Deposit Insurance Corporation (FDIC) chair Sheila Bair said in an August 10 statement that the primary aim of the ANPR is to foster sound risk management, as credit ratings were being used as an unacceptable substitute to proper due diligence – by firms,

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