JCR is recognized as an eligible ECAI by Belgian Government
JCR News
JCR is recognized as an eligible ECAI by Belgian Government
Sep. 03, 2007
On August 24, 2007 JCR was officially recognized by the Belgian Banking, Finance and Insurance Commission as an eligible External Credit Assessment Institution (ECAI) for the regulatory purposes of using its ratings to determine the risk weights to evaluate bank exposure under the BASEL II Framework. This recognition means that JCR fulfilled the conditions of objectivity, independence, stability and transparency so as to have the creditability in the markets.
This recognition by Belgium is the second recognition from the member countries of European Union (EU) subsequent to the recognition by France in June this year.
Now JCR's credit ratings have become eligible to be utilized by banks having their headquarter in either France or Belgium for the purpose of calculating capital ratios (credit risk weight based on a standardized approach) under the BASEL II Framework.
JCR has been designated as a 'Designated Credit Rating Agency' by the Japanese Financial Services Agency under 'the Cabinet Office Ordinance Concerning the Disclosure of Corporate Affair' and has been also recognized as 'eligible ECAI' with respect to the regulatory purpose of the BASEL II Framework. In addition, in May JCR received a 'no-action letter' from the staff of U.S.SEC, which permits identifying itself as a 'NRSRO' (refer to JCR News Release 07-D-0239E May 24, 2007) and in June JCR was recognized as an eligible ECAI by France (refer to JCR News Release 07-D-0315E June 22, 2007). JCR has been identified in three principal financial markets, the U.S.A., Japan and Europe, as a rating agency which meets fairness and appropriateness of internal systems and high professional and ethical standards in its rating activities.
JCR shall continuously provide a wider range of rating information to the market participants, including issuers as well as investors, and shall perform a positive role for further development of financial markets.
