OREANDA-NEWS. October 28, 2009. ING Wholesale Banking (“ING BANK (Eurasia) ZAO (Closed Joint Stock Company) is now among the banks contributing to RUB MosPrime rating, reported the press-centre of ING.

This decision has been made at a regular board meeting of the National Foreign Exchange Association and comes into effect from 1 January 2010.

The decision to include ING Wholesale Banking in the RUB MosPrime rating is based upon the following cosiderations: reputation, credit standing, volume of operations and considerable experience in the Russian money-market.

“It is important that our working experience and reputation on the Interbank money-market are fully valued. The  MosPrime rate is an important indicator for the market and we consider our involvement in its calculation to be a part of ING’s  ongoing contribution towards shaping market trends” – said Stanislav Yarushevichus, Head of Trading ING Wholesale Banking.

The National Foreign Exchange Association has calculated the MosPrime rate since May 2006 based upon the rates of RUR credits (deposits), provided by the leading participants of the Russian money-market to first-rate financial institutions. The MosPrime rate is used by International Swaps and Derivatives Association — ISDA as a reference for the Russian money-market.