MINSK, 8 February (BelTA) – The National Bank of the Republic of Belarus has been authorized to regulate the activities of national rating agencies by Decree No.42 signed by Belarus President Alexander Lukashenko on 7 February, BelTA learned from the press service of the Belarusian leader.
The decree introduces amendments to the Charter of the National Bank. “The National Bank shall regulate national rating agencies. This is a new domain of the domestic financial market; there are no organizations like this in Belarus yet. Therefore, it is necessary to lay the adequate legislative groundwork, as national rating agencies are part and parcel of the financial market infrastructure,” the press service informed.
Apart from that, the wording of the Charter of the National Bank will be brought into line with the existing legislation to avoid duplication with the Banking Code.