Sinclair Ferguson on imputed righteousness (video)

And here are some extracts from Covenant, Justification and Pastoral Ministry:

The gospel is not just that we are forgiven, but that believers are reckoned as law keepers for the sake of Christ's law keeping credited to them (Rom. 4:3; 2 Cor 5:19-21; Gal 3:6). Whoever trusts in Jesus and rests in his finished work alone is righteous before God. It is as if the Christian has performed all that the law requires.

R. Scott Clark, "Do This and Live," in CJPM, p. 265

By becoming incarnate, the Son of God became the representative and substitute for sinners, in his life keeping the law of God in all its demands and in his death bearing the full punishment that sin merits in the estimate of God. This provision of righteousness coram deo [before God] is the supreme expression of the grace of God--not just something undeserved but the opposite of what is deserved.

Hywel R. Jones, "Preaching Sola Fide Better," in CJPM, p. 321

Only a fraction of the present body of confessing Christians are solidly appropriating the justifying work of Christ in their lives. Many have so light an apprehension of God's holiness and of the extent and guilt for their sin that consciously they see little need for justification, although below the surface they are deeply guilt ridden and insecure.

Many others have a theoretical commitment to this doctrine, but in their day to day existence they rely on their sanctification for justification drawing their assurance of acceptance with God from their sincerity, their past experience of conversion, their recent religious performance or the relative infrequency of their conscious, willful disobedience.

Few know enough to start each day with a thoroughgoing stand on Luther's platform; you are accepted, looking outward in faith and claiming the wholly alien righteousness of Christ as the only ground for acceptance, relaxing in the quality of trust which will produce increasing sanctification as faith is active in love and gratitude.

Richard Lovelace, cited in CJPM, p. 310-11

And in the statements of the Heidelberg Catechism:

60. How are you righteous before God?

Only by true faith in Jesus Christ:1 that is, although my conscience accuses me, that I have grievously sinned against all the commandments of God, and have never kept any of them,2 and am still prone always to all evil;3 yet God, without any merit of mine,4 of mere grace,5 grants and imputes to me the perfect satisfaction,6 righteousness, and holiness of Christ,7 as if I had never committed nor had any sins, and had myself accomplished all the obedience which Christ has fulfilled for me;8 if only I accept such benefit with a believing heart.9

1 Rom 3:21-28; Gal 2:16; Eph 2:8-9; Php 3:8-11; 2 Rom 3:9-10; 3 Rom 7:23; 4 Dt 9:6; Ezek 36:22; Tit 3:4-5; 5 Rom 3:24; Eph 2:8; 6 1 Jn 2:2; 7 Rom 4:3-5; 2 Cor 5:17-19; 1 Jn 2:1; 8 Rom 4:24-25; 2 Cor 5:21; 9 Jn 3:18; Acts 16:30-31; Rom 3:22, 28, 10:10

61. Why do you say that you are righteous by faith only?

Not that I am acceptable to God on account of the worthiness of my faith, but because only the satisfaction, righteousness and holiness of Christ is my righteousness before God;1 and I can receive the same and make it my own in no other way than by faith only.2

1 1 Cor 1:30-31, 2:2; 2 Isa 53:5; Rom 4:16, 10:10; Gal 3:22; 1 Jn 5:10-12