On September 16, 2014, RIAC Director General Andrey Kortunov received a delegation of international financial group J.P. Morgan that included Head of EMEA Country Risk Rene Ramos, Head of Central Eastern Europe Sovereign Risk Luigi Sorvillo and Executive Director for Risk Assessment Aleksandar Kukic.
The participants discussed Russia-related risks since the bank uses the practice of rating agencies to assign its in-house credit ratings to emerging markets where certain credit hazards may arise.
On September 16, 2014, RIAC Director General Andrey Kortunov received a delegation of international financial group J.P. Morgan that included Head of EMEA Country Risk Rene Ramos, Head of Central Eastern Europe Sovereign Risk Luigi Sorvillo and Executive Director for Risk Assessment Aleksandar Kukic.
The participants discussed Russia-related risks since the bank uses the practice of rating agencies to assign its in-house credit ratings to emerging markets where certain credit hazards may arise. To this end, the J.P. Morgan experts interview government and business figures and prominent economic and political observers to obtain information for analysis of the current situation, country development trends, economic policy, regulatory and other issues for identification of potential risks. The obtained data and subsequent analyses are used to decide on possible rating amendment. All assessments and sovereign ratings are made available only for J.P. Morgan internal use.
Some attention was given to economic and political events in the Russian Federation including taxation, government debt, monetary and fiscal policies, exchange rate dynamics, composition of government assets and the country's preparedness for possible domestic and external complications. Dr. Kortunov also informed the J.P. Morgan team about RIAC's current activities and plans.
