Financial Crime World

Russia’s Central Bank Takes Key Decisions to Strengthen Financial System

The Bank of Russia, Russia’s central bank, has adopted a range of decisions aimed at ensuring the stability and efficiency of the financial system.

Strengthening Supervision Over Non-Governmental Pension Funds

  • The Bank of Russia has taken steps to strengthen its supervision over non-governmental pension funds.
  • The decision aims to ensure that these funds operate in accordance with federal laws and regulations.

Enhancing Supervision Over Credit Institutions and Banking Groups

  • The central bank has exercised its authority to supervise the activities of credit institutions and banking groups, ensuring compliance with federal laws and regulations.

Regulating Non-Bank Financial Institutions

  • The Bank of Russia has taken measures to regulate and supervise non-bank financial institutions, including:
    • Credit history bureaus
    • Credit rating agencies
  • In accordance with federal laws and regulations.

Ensuring Transparency in Securities Issues

  • The central bank has registered the issues of issue-grade securities, securities prospectuses, and reports on the results of their issuance.
  • Ensuring transparency and accountability in the financial market.

Supervising Corporate Relations

  • The Bank of Russia has exercised its supervision over corporate relations in joint-stock companies, aiming to ensure compliance with federal laws and regulations.

Conducting Banking Operations and Foreign Exchange Regulation

  • The central bank conducts banking operations and exercises foreign exchange regulation and control.
  • Ensuring stability and efficiency in the financial system.

Compiling Statistical Data

  • The Bank of Russia compiles statistics on:
    • Balance of payments
    • International investment position
    • External trade in services
    • External debt
    • International reserves
  • Providing valuable insights into the country’s economic situation.
  • The central bank analyzes and forecasts the state of the Russian economy, publishing relevant materials and statistics.
  • Informing policymakers and stakeholders.

Protecting Investors’ Rights

  • The Bank of Russia protects the rights and legitimate interests of:
    • Shareholders
    • Investors
    • Insurers
    • Insured persons
    • Beneficiaries in the financial markets.
  • Ensuring fair and transparent operations.

Promoting Financial Literacy and Inclusion

  • The central bank, in collaboration with the Russian government, implements measures to improve financial literacy among:
    • Individuals
    • Small and medium-sized enterprises.
  • Promoting financial inclusion and stability.

Assessing Risk of Suspicious Transactions

  • The Bank of Russia assesses the size (level) of risk of suspicious transactions conducted by credit institutions and their clients.
  • Ensuring compliance with federal laws and regulations.

These decisions demonstrate the Bank of Russia’s commitment to maintaining a stable and efficient financial system, protecting investors’ rights, and promoting economic growth in Russia.