China Insurance Regulatory Commission, Guidelines for Bond Investment Credit Ratings by Insurance Institutions (Trial Implementation)

中国保险监督管理委员会保险机构债券投资信用评级指引 (试行)

February 28, 2007 | BY

clpstaff &clp articles &

Insurance institutions required to conduct internal credit, ratings on bond investments.

Clp Reference: 3910/07.01.08 Promulgated: 2007-01-08 Effective: 2007-01-08

Promulgated: January 8 2007
Effective: as of date of promulgation
Interpreting Authority: China Insurance Regulatory Commission

Main Contents: Insurance institutions that invest in various bonds shall conduct internal credit ratings (Credit Ratings). Treasury bonds, central bank bills and other bonds recognized by the China Insurance Regulatory Commission may be exempted from Credit Ratings (Article 2). Credit Ratings include credit ratings of bond issuing entities (assessment of their capacity and willingness to repay debt) and bond credit ratings (assessment of the creditworthiness of obligors in repaying debts in consideration of the characteristics of the bonds and the related contracts) (Article 3). Credit rating reports shall include rating analysis and rating conclusion (Article 36). Article 39 also specifies the main contents of follow-up credit rating reports.

clp reference:3910/07.01.08promulgated:2007-01-08effective:2007-01-08

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