A number of Russian banks is planning to obtain a rating of the Analytical credit rating Agency (ACRA) or have received it but did not advertise this fact. It is necessary to be able to hold onto the deposits and accounts of non-state pension funds (NPF), reports TASS with reference to the results of a survey of market participants.
Until July 14, in accordance with the coming into force of the act of rating activities, the NPF should be to take away the pension funds of the banks not having rating agencies of an ACRE, as recently stated by the Director of the Department of collective investment and trust management of Bank of Russia Philip Gabunia.
As at 31 March in 15 banks with no rating ACRES was 333 billion of NPF assets, and banks with a rating of 164 billion rubles.
In addition to ACRE, in the Central Bank yet accredited by another domestic Agency “Expert RA”. However, indicate Gabunia, while the Central Bank is satisfied with only the methodology of an ACRE for placements of NPF funds. A modified method of “Expert RA” is currently under public debate after its approval, the Agency will be able to guide the methodology for approval to the Bank of Russia.
In the number of accredited ACRES banks are “Russian agricultural Bank”, “savings Bank”, “Expobank”, “RN Bank”, Bank “Saint Petersburg”, “Gazprombank”, “Sovcombank” and “Alfa-Bank”.
In the process of getting the rating agencies are “ROSBANK” and “RosEvroBank”. Plans to obtain a rating of TASS also said the Bank “Opening”, “Moscow credit Bank”, “Binbank” and Bank “Zenith”.
“The AKP signed dozens of agreements on the assignment of ratings, and work is actively underway”, – told TASS Director General of the Agency Ekaterina Trofimova, refusing further comment.
The Finance Ministry plans “to follow the decisions of the Central Bank” and believes that there should be two rating agencies, said Deputy Finance Minister Alexei Moiseev.
In case of approval by the regulator of the methodology of “Expert RA”, he said, the Ministry will include it in their documents. According to him, the presence of banks placing funds NPF, estimates of the two rating agencies is dictated by the need to protect the interests of holders of funds in the funds.
Some of the 15 banks where the NPF are placed in pension funds has a rating of ACRES, but the banks are simply not published, said the employee of one of the rating agencies working in Russia. The fact that these banks already have a fairly high rating of “Expert RA”, and the rating of an ACRE to several degrees below.
According to him, these banks hoped that the Central Bank will be allowed to keep pension savings banks with a rating of “Expert RA”. However, this did not happen, so now banks will have to publish ratings of ACRE.
For example, at the beginning of the year, VTB said that it will not obtain a rating of an ACRE, limiting the rating of “Expert RA”. According to the representative of the state Bank VTB is exploring the feasibility of conservation participation in the founders of the AKP. According to the source TASS familiar with the situation, VTB received a rating of an ACRE, but refused to publish it, as the rating did not meet the expectations of top management of the Bank.
While in VTB consider that the recognition of ratings of only one Agency for placement of funds SPC undermines competition. “We believe that the recognition of ratings of only one Agency is unacceptable as it undermines the foundations of competition and creates a monopoly in this critical sector,” said TASS in the press service of the state Bank.