of December 24, 2012 No. 385
About establishment of the minimum rating for legal entities and the countries which need of availability is required according to the legislation of the Republic of Kazakhstan regulating activities of the financial organizations, branches of nonresident banks of the Republic of Kazakhstan, branches of the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan, the list of the rating agencies assigning this score
For the purpose of realization of Items 3 and 13 of Article 8, subitems 4) and 6) Item 2 of Article 8-1, of Item 14 of Article 11-1, of the subitem 8) Item 2 of Article 13-1, of Item 5 of Article 17, Items 1 and 6-1 of Article 17-1, of Item 1 of Article 18, Item 15 of Article 20, Item 12 of Article 30, Item 9 of Article 40, Item 5 of Article 44, Item 7 of Article 45, Item 3 of Article 52-12 and Item 7 of article 60 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" (further - the Law on banks), Item 6 of Article 15-1, of item 4 of Article 21, Item 1 of Article 26, the subitem 8) Item 2 of Article 30-1, of Item 14 of Article 32, Item 15 of Article 34, Item 6 of Article 44, Items 3, the 9 and 10 Articles 48, Item 9 of article 62 of the Law of the Republic of Kazakhstan "About insurance activity", Item 2 of Article 47, of Item 1 of article 72-1 of the Law of the Republic of Kazakhstan "About the security market" the Board of National Bank of the Republic of Kazakhstan DECIDES:
1. Establish the minimum long-term credit rating on the international scale in foreign currency not below VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution for the following legal entities - nonresidents of the Republic of Kazakhstan:
the legal entities or their parent organizations acquiring (having) the status of bank holding;
the legal entities acquiring (having) the status of insurance holding;
the legal entities or their parent organizations acquiring (having) the status of the large member of bank;
the legal entities acquiring (having) status of the large member of the insurance (reinsurance) organization, the managing director of investment portfolio with the right of attraction of voluntary pension contributions;
the banks creating (having) subsidiary banks in the Republic of Kazakhstan;
the insurance (reinsurance) organizations having the affiliated insurance (reinsurance) organizations in the Republic of Kazakhstan;
the nonresident banks of the Republic of Kazakhstan opening the branches in the territory of the Republic of Kazakhstan;
the insurance (reinsurance) nonresident organizations of the Republic of Kazakhstan opening the branches in the territory of the Republic of Kazakhstan.
Establish the minimum long-term credit rating on the international scale in foreign currency not below "In -" Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution for the following legal entities - nonresidents of the Republic of Kazakhstan:
acquiring (having) status of the large member of the managing director of investment portfolio without right of attraction voluntary pension contributions;
having the affiliated organizations performing professional activity in the security market.
For the purposes of the subitem 4) of Item 2 of article 8-1 of the Law on banks to establish the following minimum long-term sovereign rating:
in foreign currency of foreign state - not below the minimum long-term rating on the international scale in foreign currency of VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution.
For the purposes of the subitem 6) of Item 2 of article 8-1 of the Law on banks to establish the following minimum individual credit rating on the international scale:
in foreign currency of the organization - not below the minimum long-term rating on the international scale in foreign currency of VVV of Standard & Poors rating agency or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution.
1-1. Establish for the purposes of subitems 1) and 2) of Item 12 of article 30 of the Law on banks the minimum long-term sovereign rating in foreign currency not below "VVV-" (on classification of Standard & Poor rating agencies "s and (or) Fitch) or Vaaz (on classification of Moody rating agency" is not lower than s Investors Service).
1-2. No. 85 is excluded according to the Resolution of Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market of 21.09.2020
2. Requirements of part one of Item 1 of this resolution do not extend on:
1) legal entities - the nonresidents of the Republic of Kazakhstan corresponding to all following conditions:
availability at the legal entity of the minimum long-term credit rating on the international scale in foreign currency not below "VV-" of Standard & Poors rating agency (Standard and Purs) or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;
is resident of the foreign state having the minimum sovereign rating in foreign currency not below "VV-" of Standard & Poors rating agency (Standard and Purs) or scores of similar level assigned to one of the rating agencies specified in Item 3 of this resolution;
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