Circulars/Notifications - Banking Surveillance Department  
 BSD Circular Letter No. 09 of 2007
August 24, 2007 

The Presidents/Chief Executives
All Banks/ DFIs

Dear Sirs / Madam,

Minimum Capital Requirements for Banks & DFIs – Revised Regulatory Capital Framework under Basel II

Please refer to SBP instructions on the captioned subject issued vide BSD Circular No. 08 dated 27th June 2006.

2. It has been decided that the banks/DFIs can also use the ratings assigned by the following international rating agencies as per mapping given in enclosed Annexure-1 {Table 2.3(a)} for assigning risk weights for capital adequacy purposes:
(i) Fitch Ratings;
(ii) Moody’s; and
(iii) Standard & Poors (S&P)

3. Banks/DFIs can use the entity ratings of above mentioned international rating agencies for the purpose of risk weighting their foreign currency exposures either in Pakistan or outside Pakistan. However, where ratings by the local rating agencies are not available for exposures in Pakistan Rupees, ratings by these international rating agencies can be used.

All other instructions on the subject, shall, however remain unchanged.

Kindly acknowledge the receipt.

Encl: Annexure-1


Yours faithfully,

Sd/------
(LUBNA FAROOQ MALIK)
Director

       
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