But the benefits of such a system are not exclusive to monetary policy. In fact, there is a broad range of advantages to different business areas, in particular regarding supervision and financial stability.
Starting with supervision, the credit notations derived from ICAS could be used not only as a benchmark to gauge those provided by institutions with their own internal notation systems, but also as a way to assess the quality of individual credit portfolios, while potentially contributing to an early identification of specific risks to which institutions may be exposed to.