Russian cbank wants to remove foreign ratings from risk assessment

MOSCOW, Mar 20 (PRIME) -- The Russian central bank will discuss with banks abandoning ratings of foreign ratings agencies when accessing credit risks, Deputy Chairman Vasily Pozdyshev said at a banking conference Friday.

“We see that there are large drawbacks when assessing market risks because there are ratings agencies. The measures which the central bank has taken to what we call “freeze” the ratings are temporary. We cannot continue to ignore ratings and imagine that they are as they were,” Pozdyshev said.

The central bank will offer banks to use a standardized approach, Pozdyshev said.

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