KARACHI: State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in the country as eligible /recognized external credit assessment institutions (ECAIs) for the calendar year 2014.
These agencies are JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited ( PACRA), said SBP press release here on Tuesday.
Banks / DFIs using the standardized approach of Basel II are allowed to use credit rating assigned by these recognized ECAIs for CAR calculation purposes.
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