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