Regulatory Alerts2021-09-08 | Circular No. 9 of 2021Recognition of Lanka Rating Agency Ltd as an Acceptable Credit Rating Agency
The Central Bank of Sri Lanka has formally recognized Lanka Rating Agency Ltd as an acceptable External Credit Assessment Institution for licensed commercial and specialised banks. This designation updates Banking Act Directions No. 01 of 2016 by revising Tables 1 and 3 to map Lanka Rating Agency’s long-term and short-term credit notations to specific capital risk weights under the Basel III framework. Consequently, financial institutions may now utilize Lanka Rating Agency’s assessments to calculate regulatory capital requirements alongside other established rating agencies.
Share