ICRA Ltd has informed that the Company and Corporation Bank have signed a Memorandum of Understanding (M0U) under which the Company will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.
In this regard the Company has issued the following Press Release:
Credit rating agency ICRA Ltd (ICRA) and Corporation Bank have signed a Memorandum of Understanding (MoU) under which ICRA will assign ratings to the Banks loans and its other exposures under the standardized approach of RBIs New Capital Adequacy Framework for Basel-II.
ICRAs ratings for the standardized approach would be carried out under its Line of Credit rating service and would enable Corporation Bank to assign the new risk weights applicable to its borrowers under Basel-II. The risk weights would be linked to the various rating categories and would be as per RBIs Basel II guidelines.
To assist potential and existing borrowers of Corporation Bank in obtaining ratings, ICRA is offering special terms to the clients of Corporation Bank.
The MoU between ICRA and Corporation Bank would assist in implementing RBIs New Capital Adequacy Framework under Basel-II. |
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