Regulatory Alerts2015-08-03 | 02/17/500/0063/001Suspension of Lanka Rating Agency Ltd. as an Acceptable Credit Rating Agency
The Central Bank of Sri Lanka has suspended Lanka Rating Agency Ltd (LRA) as an acceptable credit rating agency for licensed commercial and specialized banks, effective July 1, 2015. This suspension follows LRA’s registration non-renewal by the Securities and Exchange Commission of Sri Lanka, requiring banks to adjust their regulatory credit assessments accordingly. The Bank Supervision Department directs all licensed bank chief executives to implement appropriate compliance measures immediately following the circular's issuance.
$ goor Oco OuotgO Eamfuma r$didfiu arnid CEHINff. BAilT OF $NI LIilI(A 03 August 2015 CIRCULAR nlefz 021171500/0063/001 Bank Supervision Department To: The Chief Executive Officers of Licensed Commercial Banks and Licensed Specialised Banks Suspension of Lanka Rating Agency Ltd. as an Acceptable Credit Rating Agency The Monetary Board has decided to suspend Lanka Rating Agency Ltd (LRA) as an accepable credit rating agency for regulatory requirements pertaining to licenced commercial banks and licensed specialised banks with effect from 01.07.2015, consequent to the nonrenewal of registration granted to LRA by the Securities and Exchange Commission of Sri Lanka. Accordingly, you are requested to take appropriate measures in this regard. (Mrs.)TMJYPFernando Director of Bank Supervision 6 OeD O.DO, eclo 30, deDrA€d oJO(D, lD.. s(r. 5OO, slo€O Of, € Cplooo I s+fizanlooasg 6 qgLb onrg, @o. 30 uor$u$ mnopmp GEr(BDq I g. Glu. Qo.590, Gengdq 01, e$do6 lortol 6, t{0.30, Janadhlpdrl Mardra, Colombo 1 P. 0. Bu.590, Colombo 01, Sil lrnlo. ld gau24ttz11 M banksup@cbsl.lk @ www.cbsl.gov.lk )