On establishing the list of credit agencies and minimum credit ratings when calculating professional securities market participants’ capital

The Bank of Russia Board of Directors took the following decision:

In accordance with Bank of Russia Regulation No. 548-P, dated 19 July 2016, ‘On the Procedure for Calculating the Capital of Professional Securities Market Participants and Also of Applicants for Professional Securities Market Participant’s Licence’ (further referred to as the Regulation)

to establish the following list of credit rating agencies:

• Joint-stock Company Rating Agency Expert RA (JSC Expert RA ) (only as regards credit ratings of credit institutions, constituent entities of the Russian Federation and municipalities)
• Analytical Credit Rating Agency Joint-stock Copmany (ACRA JSC)

A minimum credit rating:

ruBBB+ on the national rating scale for the Russian Federation in the classification of the rating agency JSC Expert RA or BBB+(RU) on the national rating scale for the Russian Federation in the classification of ACRA JSC.

Pursuant to the decision, no rating shall apply to credit institutions acting as providers of clearing and settlement services (settlement organisations).

The previous decisions of the Bank of Russia Board of Directors whereunder the list of rating agencies and minimal ratings were established as regards assets recognised as the capital of professional securities market participants are repealed.

This decision is to be applied starting from 14 July 2017.

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