Regulator sets credit rating levels for investing pension savings and pension reserves in central counterparties’ assets

At its meeting on 23 July 2021, the Bank of Russia Board of Directors decided to set the following credit rating levels for non-bank credit institutions acting as central counterparties, effective from 10 September 2021: ruA- on the national rating scale for the Russian Federation in the classification of the rating agency JSC Expert RA or A-(RU) on the national rating scale for the Russian Federation in the classification of ACRA JSC. The decision was made for the purpose of applying Paragraph 2 of Clause 3 of Article 18 and Subclauses 3 and 4 of Clause 3 of Article 24.1 of Federal Law No. 75-FZ, dated 7 May 1998, ‘On Non-governmental Pension Funds’.

This decision will be applied from 10 September 2021 due to entering into force of Federal Law No. 190-FZ, dated 11 June 2021, ‘On Amending Article 26 of Federal Law ‘On Investment of Funds for Financing the Funded Pension in the Russian Federation’ and Articles 18 and 24.1 of Federal Law ‘On Non-governmental Pension Funds’.

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