The International Monetary Fund's bi-annual Global Financial Stability Report addresses Sovereigns, Funding and Systemic Liquidity. In Section III, entitled "the Uses and Abuses of Sovereign Credit Ratings", the IMF studies the performance of Sovereign ratings and mentions that these proved to work properly well (attached is this section of the report).
On February 24th, IOSCO published the report on the „Regulatory Implementation of the Statement of Principles Regarding the Activities of Credit Rating Agencies“, which reviewed CRA supervisory initiatives in Australia, the European Union (EU), Japan, Mexico, and the United States. The review found that while the structure and specific provisions of the different programs […]
The Financial Statibility Board issued on October 27th, its proposed Principles on Reducing Reliance on Ratings. These include the reduction in reliance on ratings in laws and regulation as well as in the current market practice.