FSB reports on reducing reliance on ratings: FSB has published the results of its thematic peer review into reducing mechanistic reliance on credit ratings. It found that progress is uneven, but all FSB members have prepared action plans. FSB wants its members to develop proposals for alternative definitions of creditworthiness. It also wants market participants to develop their internal credit risk assessment capabilities and to review the reliance on ratings in private contracts. (Source: FSB Report on Reducing Reliance on Ratings)