INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of September 25, 2023 No. 6538-U

About procedure for application by the Bank of Russia to credit rating agencies of measures, stipulated in Item 3 parts 2 and part 2.1 of article 15 of the Federal Law of July 13, 2015 No. 222-FZ "About activities of credit rating agencies in the Russian Federation, about modification of article 76.1 of the Federal law "About the Central Bank Russian Federation (Bank of Russia)" and recognition voided separate provisions of legal acts of the Russian Federation"

This Instruction based on part 2.2 of article 15 of the Federal Law of July 13, 2015 No. 222-FZ "About activities of credit rating agencies in the Russian Federation, about modification of article 76.1 of the Federal law "About the Central Bank Russian Federation (Bank of Russia)" and recognition voided separate provisions of legal acts of the Russian Federation" establishes procedure for application by the Bank of Russia to credit rating agencies of measures, stipulated in Item 3 parts 2 and part 2.1 of article 15 of the Federal Law of July 13, 2015 No. 222-FZ "About activities of credit rating agencies in the Russian Federation, about modification of article 76.1 of the Federal law "About the Central Bank Russian Federation (Bank of Russia)" and recognition voided separate provisions of legal acts of the Russian Federation".

1. The decision on application to credit rating agency of measures, stipulated in Item 3 parts 2 and part 2.1 of article 15 of the Federal Law of July 13, 2015 No. 222-FZ "In the Russian Federation, about modification of article 76.1 of the Federal law "About the Central Bank the Russian Federation (Bank of Russia) and Recognition Voided Separate Provisions of Legal Acts of the Russian Federation" (further - the Federal Law No. 222-FZ), based on article 76.9-9 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (further - the Federal Law No. 86-FZ) adopts Committee of supervision about activities of credit rating agencies in the sphere of rendering professional services in the financial market of the Bank of Russia (further - Committee).

2. Application of measure, stipulated in Item 3 parts 2 of article 15 of the Federal Law No. 222-FZ, is drawn up by the instruction of the Bank of Russia about introduction of prohibition on assignment of credit ratings before elimination of the violation revealed when implementing activities of credit rating agency (further - the instruction about introduction of prohibition on assignment of credit ratings).

Application of the measure provided by part 2.1 of article 15 of the Federal Law No. 222-FZ is drawn up by the instruction of the Bank of Russia about withdrawal (review) of credit rating (further - the instruction about withdrawal (review) of credit rating).

The instruction about introduction of prohibition on assignment of credit ratings and the instruction about withdrawal (review) of credit rating are signed by the vice-chairman of the Bank of Russia who is the chairman of Committee (person, it replacing).

3. The instruction about introduction of prohibition on assignment of credit ratings shall contain the following data:

the complete and reduced (in the presence) trade names of credit rating agency;

sequence number of entry in the register of credit rating agencies which maintaining is performed by the Bank of Russia according to Item 1 of part 1 of article 15 of the Federal Law No. 222-FZ (further - the register of credit rating agencies);

identification taxpayer number of credit rating agency;

specifying on non-execution and (or) violation of completion dates of instructions of the Bank of Russia about elimination of the violations revealed when implementing activities of credit rating agency, or the requirement of the Bank of Russia provided by part 2.1 of article 15 of the Federal Law No. 222-FZ;

specifying on the violation revealed when implementing activities of credit rating agency before which elimination ban on assignment of credit ratings is imposed, with reference to Articles, Items and (or) other structural units of the Federal laws and (or) regulations of the Bank of Russia which were broken;

the requirement about elimination of the violation revealed when implementing activities of credit rating agency, and (or) execution of the requirement of the Bank of Russia provided by part 2.1 of article 15 of the Federal Law No. 222-FZ;

prohibition on assignment of credit ratings;

starting date of action of prohibition on assignment of credit ratings;

specifying on action of prohibition on assignment of credit ratings before its cancellation by the Bank of Russia in case of receipt in the Bank of Russia of documentary confirmed information on elimination by credit rating agency of the violation revealed when implementing activities of credit rating agency, and (or) execution of the requirement of the Bank of Russia provided by part 2.1 of article 15 of the Federal Law No. 222-FZ.

4. The instruction about withdrawal (review) of credit rating shall contain the following data:

the complete and reduced (in the presence) trade names of credit rating agency;

sequence number of entry in the register of credit rating agencies;

identification taxpayer number of credit rating agency;

specifying on provisions of parts 3, of the 9th Article 9, of parts 2, 5 - 7 Articles 10, of parts 1 - 3, the 7th Articles 11, the credit rating (is reviewed, confirmed) to part 8.1 of article 12 of the Federal Law No. 222-FZ with which violation it is appropriated;

the requirement to withdraw or review assigned (reviewed, confirmed) credit score;

the term during which it shall be withdrawn (is reviewed) credit rating;

starting date of action of the instruction about withdrawal (review) of credit rating;

specifying on action of the instruction about withdrawal (review) of credit rating before its cancellation by the Bank of Russia in case of receipt in the Bank of Russia of documentary confirmed information on withdrawal (review) of credit rating.

5. The instruction about introduction of prohibition on assignment of credit ratings changes the Bank of Russia in case of detection by the Bank of Russia of data on the circumstances connected with the basis of the direction of the instruction about introduction of prohibition on assignment of credit ratings, but not specified in it.

6. The instruction about withdrawal (review) of credit rating changes the Bank of Russia in case:

detection by the Bank of Russia of data on the circumstances connected with the basis of the direction of the instruction about withdrawal (review) of credit rating, but not specified in it;

satisfactions with the Bank of Russia of the motivated petition of credit rating agency for change of term during which it shall be withdrawn the credit rating (is reviewed).

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