KARACHI: The State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in the country, namely JCR-VIS Credit Rating Company and Pakistan Credit Rating Agency (Pacra), as eligible and recognised external credit assessment institutions (ECAIs) for 2014. According to a statement released by the SBP on Tuesday, banks and development finance institutions using the standardised approach of Basel II are allowed to use the credit rating assigned by these ECAIs for calculating the capital adequacy ratio.
Published in The Express Tribune, June 11th, 2014.
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