Central bank Russian Federation (Bank Russia) will be toughened by regulation of rating agencies because of overestimate of credit ratings

Central bank Russian Federation (Bank Russia) since the end of December will be able to apply new measures of influence to rating agencies — to withdraw credit ratings and to forbid their assignment in case of violations. New powers Central bank Russian Federation (Bank Russia) have to help to stop cases of unfair competition when ratings overestimate in fight for clients, but can reduce independence of agencies, experts of Power note Central bank Russian Federation (Bank Russia) on supervision of rating activity will extend since December 20. The regulator will be able to issue instructions to credit rating agencies about a response or revision of credit ratings and about a ban on their assignment. About it writes...