Credit ratings of all Russian rating agencies to be used in regulation
The Bank of Russia will take into consideration the credit ratings assigned by National Credit Ratings LLC (NCR LLC) (to banks and non-financial companies) and National Rating Agency LLC (NRA LLC) (to banks) for regulating the operations of a central counterparty, a central depository and financial platform operators. Relevant decisions were approved by the Bank of Russia Board of Directors.
From now on, the Bank of Russia will therefore use the ratings of all Russian credit rating agencies to regulate various activities of financial institutions. Currently, for regulation, the Bank of Russia relies on the credit ratings of Analytical Credit Rating Agency (ACRA JSC) and JSC Expert RA assigned to companies and organisations of almost all industries. Ratings assigned by NCR LLC are applied for regulating insurance companies’ activities and for purchasing structured bonds by non-qualified investors.
Such decisions will enhance the investment opportunities of institutions supervised by the Bank of Russia.