Office of Credit Ratings Reports and Studies

Section 15E(p)(3)(c) of the Securities Exchange Act of 1934 requires the Commission to make available an annual public report summarizing essential findings from its required annual examinations, and Section 6 of the Credit Rating Agency Reform Act of 2006 requires the Commission submit an annual report to Congress. These reports, as well as other reports as well as studies, are organized below by category.

Staff Reports on Nationally Recognized Statistical Rating Organizations

• 2023 Staff Report on NRSROs (Feb. 2024)
• 2022 Staff Report on NRSROs (Feb. 2023)
• 2021 Staff Report on NRSROs (Jan. 2022)

Annual Reports to Congress

• Annual Report to Congress - June 26, 2019 - June 25, 2020 (Dec. 2020)
• Annual Report to Congress - June 26, 2018 - June 25, 2019 (Jan. 2020)
• Annual Report to Congress - June 26, 2017 - June 25, 2018 (Dec. 2018)
• Annual Report to Congress - June 26, 2016 - June 25, 2017 (Dec. 2017)
• Annual Report to Congress - June 26, 2015 - June 25, 2016 (Dec. 2016)
• Annual Report to Congress - June 26, 2014 - June 25, 2015 (Dec. 2015)
• Annual Report to Congress - June 26, 2013 - June 25, 2014 (Dec. 2014)
• Annual Report to Congress - June 26, 2012 to June 25, 2013 (Dec. 2013)
• Annual Report to Congress - June 26, 2011 to June 25, 2012 (Dec. 2012)
• Annual Report to Congress - June 26, 2010 to June 25, 2011 (Mar. 2012)
• Annual Report to Congress - June 26, 2009 to June 25, 2010 (Jan. 2011)
• Annual Report to Congress - June 26, 2008 to June 25, 2009 (Sept. 2009)
• Annual Report to Congress - June 26, 2007 to June 25, 2008 (June 2008)

Summary Examination Reports

• 2020 Summary Examination Report (Dec. 2020)
• 2019 Summary Examination Report (Jan. 2020)
• 2018 Summary Examination Report (Dec.2018)
• 2017 Summary Examination Report (Dec. 2017)
• 2016 Summary Examination Report (Dec. 2016)
• 2015 Summary Examination Report (Dec. 2015)
• 2014 Summary Examination Report (Dec. 2014)
• 2013 Summary Examination Report (Dec. 2013)
• 2012 Summary Examination Report (Nov. 2012)
• 2011 Summary Examination Report (Sept. 2011)

Employment Transition Report

• NRSRO Employment Transition Report (“NRSRO ETR”)

Other Reports and Studies

• Report to Congress on Credit Rating Agency Independence Study (Nov. 2013)
• Report to Congress on Assigned Credit Ratings (Dec. 2012)
• Report to Congress on Credit Rating Standardization Study (Sept. 2012)
• Report on Review of Reliance on Credit Ratings (July 2011)
• Solicitation of Comment to Assist in Study on Assigned Credit Ratings –
  Release 34-64456 (May 10, 2011)
  Comments received are available
• Request for Comment: Credit Rating Standardization Study –
  Release 34-63573 (Dec. 17, 2010)
  Comments received are available
• Summary Report of Issues Identified in the Commission Staff's Examinations of Select Credit Rating Agencies (July 2008)
• Special Study: Report on the Role and Function of Credit Rating Agencies in the Operation of the Securities Markets (Jan. 24, 2003)