On August 25th, in accordance with the Dodd-Frank Act, the federal banking regulatory agencies issued an Advance Notice of Proposed Rulemaking. The Act requires the agencies to review their regulations that require the use of an assessment of creditworthiness of a security or money market instrument and make reference to, or have requirements regarding, credit ratings. The agencies must then modify their regulations to remove any reference to, or requirements of reliance on, credit ratings in such regulations and substitute in their place other standards of creditworthiness that the agencies determine to be appropriate for such regulations. The ANPR describes the areas in the agencies' risk-based capital standards and Basel changes that could affect those standards that make reference to credit ratings and requests comment on potential alternatives to the use of credit ratings. Comments should be submitted on or before October 25, 2010. 75 FR 52283. See also OCC Bulletin 2010-32.