Bank Regulators Start Rewrite Of Rating Agency Rules

Law360, New York (August 11, 2010, 11:50 AM EDT) -- Federal banking agencies have announced they are seeking ideas on how to set risk-based capital rules for banks without relying on assessments from credit rating agencies, as they move to begin implementing one of the key portions of the recently enacted financial regulatory reform law.

The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System released a joint advance notice of proposed rulemaking Tuesday regarding alternatives to the current credit rating-based capital rule system,...
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