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Russia seeking way to exclude external ratings from market risk evaluation

March 20, 2015, 15:26 UTC+3 MOSCOW
The transition to the new market risk calculation system will be advantageous for many banks
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© AP Photo/Pavel Golovkin

MOSCOW, March 20. /TASS/. The Bank of Russia will suggest that the banking community examine the market risk calculation issue without use of external ratings, Deputy Chairman of the Central Bank of Russia Vasily Pozdyshev said on Friday

"We will suggest that the banking community discusses the transition to a new system of the market risk calculation without use of external ratings, that is, returning to the approach we use for the credit risk calculation," the deputy chairman added.

The transition to the new market risk calculation system will be advantageous for many banks because there have been actually no securities with high ratings on the market, Pozdyshev said.

The Central Bank will propose introduction of fixed risk factors for assessment of securities standing at balances of the banks, he added. No procedure for calculation of factors was disclosed.

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