REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsMARRAKECH, Morocco, Oct 10 (Reuters) - Senior executives at multilateral development banks will meet on Wednesday with the top credit ratings agencies, bank executives said, amid a broad push to expand their lending capacity and help countries brace for climate change and other challenges.
The World Bank's main lending arms could expand their lending capacity by nearly $900 billion if the ratings agencies changed their processes and modified the allowance they make for callable capital, a study commissioned by Rockefeller found.
Lakshmi Shyam-Sunder, the World Bank's chief risk officer, said the ratings agencies had shown some openness to considering revisions in how they treat callable capital in the banks' balance sheets.
Casali said Wednesday's meeting, on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Morocco, would include officials from the World Bank, the Asian Development Bank and the African Development Bank, along with the three top credit raters - Moody's, Standard & Poor's and Fitch.
Currently, the ratings agencies apply widely different rules and standards in assessing the risks associated with the banks' lending and balance sheets.
Persons:
Yuri Gripas, Roberta Casali, Rockefeller, Lakshmi Shyam, Sunder, Casali, Fitch, Ajay Banga, Janet Yellen, Andrea Shalal, David Lawder, Leslie Adler
Organizations:
Monetary Fund, REUTERS, Rights, Asian Development Bank, Rockefeller, AAA, International Monetary Fund, World Bank, African Development Bank, Poor's, World, Reuters, U.S, Treasury, Thomson
Locations:
Washington , U.S, Rights MARRAKECH, Morocco