Ratings assigned by new agencies to be used in regulation after at least one year of operation, says Russian Central Bank

TASS Russian News Agency | Sep 17, 2019 at 1:10 PM

MOSCOW, September 17. /TASS/. Ratings of new credit rating agencies may be used in regulation of non-credit financial organizations after at least one year of their operating, and after at least three years of rating activities - in bank regulation, a representative of the Russian Central Bank's press service told TASS.

The regulator put two new participants on its register of credit rating agencies - the National rating agency and the National credit ratings - earlier this week.

"The Bank of Russia may consider the issue of including credit ratings of new credit rating agencies in the perimeter of regulation of non-credit financial organizations no earlier than after one year of new credit rating agencies' operation and no earlier than after three years of rating activities in bank regulation considering the requirements of the Basel Committee on Banking Supervision," the regulator's representative told TASS.

Currently four Russian agencies have the Central Bank's accreditation. The Analytical Credit Rating Agency (ACRA) and Expert RA rating agency received it in 2016.