The Financial Stability Board (FSB) has published a progress report on reducing reliance on, and strengthening the oversight of, credit rating agencies (CRAs) The progress report includes a summary of the main findings and recommendations made in an accompanying interim peer review report on the FSB Principles for Reducing Reliance on CRAs. The report also describes ongoing work by standard-setting bodies to reduce references to CRA ratings in international standards, and provides an update on work to improve transparency and competition among CRAs.