Thomas Murray affirms NSD ratings

AO UniCredit Bank
Fri, 29/04/2016

Thomas Murray maintains the CSD rating at AA- for Russia’s National Settlement Depository.
                                                                                                                                                 
The CSD rating for Russia’s National Settlement Depository (NSD) assigned by Thomas Murray has been maintained at AA-, which translates as “very low overall risk”. 

The AA- rating affirmed by Thomas Murray for NSD includes the following components:

  • Overall Rating AA-
  • Asset Commitment AA-
  • Liquidity Risk A+
  • Counterparty Risk AA-
  • Asset Safety AA-
  • Asset Servicing AA-
  • Financial Risk AA
  • Operational Risk AA-
  • Governance and Transparency Risk AA- 

The overall rating of AA- corresponds to a weighted average of the eight constituting risk components and denotes a very low risk exposure with stable outlook.
Thomas Murray has also upgraded several criteria of NSD’s rated components as a result of its service enhancements and technical developments finalised in 2015, which include:

  • additional clearing session for settlement of OTC RVP/DVP trades at 14:00 Moscow time;
  • DVP RTGS trade settlement via custodians’ cash correspondent accounts with CBR;
  • increase in OTC against payment transactions compared to OTC free of payment transactions;
  • introduction of e-proxy voting;
  • enhancement of internal audit processes.

Contact:
Yuliya Shibukova
Relationship Manager
GSS Russia
Yuliya.Shibukova@unicredit.ru