*FSB for reducing reliance on Credit Rating Agencies*

*Published in SUNS #7029 dated  29 October 2010*

Geneva, 28 Oct (Kanaga Raja) -- The Financial Stability Board (FSB) on Wednesday published a set of principles for reducing reliance on Credit Rating Agency (CRA) ratings.

The goal of the FSB-proposed Principles is to reduce the financial stability-threatening "herding" and "cliff effects" that currently arise from CRA rating thresholds being hard-wired into laws, regulations and market practices.