IOSCO consults on credit risk sound practices: IOSCO has published a report titled "Sound Practices at Large Intermediaries: Alternatives to the Use of Credit Ratings to Assess Creditworthiness". The report sets out 14 proposed "sound practices" that large market intermediary firms should take into consideration when implementing their internal credit assessment policies and procedures. IOSCO's aim is to reduce the overreliance of large credit intermediaries on credit rating agencies. It says this would increase investor protection and contribute to market integrity and financial stability. (Source:IOSCO Consults on Sound Practices at Large Intermediaries for Assessing Credit Risk)