Bank of Russia to use ratings in lending to banks since January 2023

The transition to credit ratings to be used by the Bank of Russia when issuing secured loans to credit institutions has been rescheduled from 1 April 2022 to 1 January 2023.

Accordingly, the regulator has changed the effective date of Bank of Russia Ordinance No. 5930-U, dated 15 September 2021, ‘On the Form and Conditions for Secured Bank Refinancing’.

Hence, Bank of Russia Ordinance No. 4801-U, dated 22 May 2018, ‘On the Form and Conditions for Secured Bank Refinancing’ will remain effective until 1 January 2023. Pursuant to this ordinance, the criterion for accessing Bank of Russia secured loans is the classification groups of credit institutions.

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