<p>The federal banking agencies have published an advance notice of proposed rulemaking regarding alternatives to the use of credit ratings in their risk-based capital rules for banking organizations. The advance notice is issued in response to section 939A of the Dodd-Frank Act, which requires the agencies to review regulations that require an assessment of the credit-worthiness of a security or money market instrument, and contain references to or requirements regarding credit ratings. The agencies are required to remove such references and requirements and substitute in their place uniform standards of creditworthiness, where feasible. Through this advance notice, the agencies are seeking to gather information as they begin to develop alternatives to the use of credit ratings in their capital rules. This advance notice describes the areas in these capital rules where the agencies rely on credit ratings, as well as the Basel Committee on Banking Supervision&rsquo;s recent amendments to the Basel Accord. The advance notice addresses only the references to credit ratings in the agencies&rsquo; capital rules, and are expected to issue proposals for removing references to credit ratings in other parts of their regulations separately. Comments are solicited 60 days after publication in the Federal Register, which is expected shortly.</p>