On the allocation of duties between the Bank of Russia Governor and Deputy Governors
By Order of Bank of Russia Governor Elvira Nabiullina, the following allocation of duties between the Bank of Russia Governor and Deputy Governors has been approved:
1. Bank of Russia Governor Elvira Nabiullina:
1.1. shall act on behalf of the Bank of Russia and represent its interests without a power of attorney in relations with the state authorities, credit institutions, organisations of foreign states, international organisations and other institutions and organisations;
1.2. shall chair the meetings of the Bank of Russia Board of Directors;
1.3. shall sign Bank of Russia regulations, decisions of the Bank of Russia Board of Directors, minutes of the Board of Directors’ meetings and agreements concluded by the Bank of Russia and shall be entitled to delegate the right to sign Bank of Russia regulations to a Board member deputising for her;
1.4. shall appoint and dismiss Bank of Russia Deputy Governors and allocate duties between them;
1.5. shall be entitled to delegate her powers to her deputies;
1.6. shall sign orders, directives and give instructions binding for all Bank of Russia employees and organisations;
1.7. shall bear full responsibility for the activities of the Bank of Russia;
1.8. shall see to it that the Bank of Russia fulfils its functions in compliance with the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’ and take decisions on all issues assigned by federal laws to the competence of the Bank of Russia, except those on which decisions are taken under the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’ by the National Financial Board or the Bank of Russia Board of Directors;
1.9. shall directly govern the work of Bank of Russia First Deputy Governor Georgy Luntovskiy, Bank of Russia First Deputy Governor Alexey Simanovskiy, Bank of Russia First Deputy Governor Sergey Shvetsov, Bank of Russia First Deputy Governor Ksenia Yudaeva, Bank of Russia Deputy Governor Viktor Berestovoy, Bank of Russia Deputy Governor Dmitry Skobelkin, Bank of Russia Chief Accountant – Director of the Accounting and Reporting Department Andrey Kruzhalov, Bank of Russia Chief Auditor Valery Goreglyad, Head of the Secretariat of the Bank of Russia Governor Azer Talybov, Head of the Bank of Russia Executive Office Vladimir Zhuchkov, Head of the Main Office of Security and Information Protection Oleg Krylov, Director of the Legal Department Alexey Guznov and Head of the Bank of Russia Press Service Anna Granik.
2. Bank of Russia First Deputy Governor Georgy Luntovskiy:
2.1. shall deal with the following issues:
organising cash circulation;
ensuring the uninterrupted functioning of the system of cash circulation in the Russian Federation;
material and technical supply and the operation of facilities and equipment connected with cash circulation;
personnel policy and human resources management;
the activities of Bank of Russia regional branches;
developing and implementing measures aimed at ensuring the proper level of professional competence of Bank of Russia employees;
personnel monitoring and measures for improving motivation conditions at Bank of Russia divisions;
the Bank of Russia operational security;
information systems development, information collection and processing;
providing automated and IT support for the activities of Bank of Russia divisions;
organising technical support, maintenance and repairs of technical facilities of the Bank of Russia’s information and telecommunications system, security engineering and technical facilities and systems;
organising support for software application suites;
Bank of Russia capital expenditure planning;
organising and ensuring the operation of the national payment system;
the work of the Russian Collection Service;
mobilisation training and civil defence;
labour protection;
personnel arrangements and work quota setting;
improving labour remuneration;
additional pension provision;
work of the editorial board of ‘Money and Credit’ journal;
information interaction with the Federal Guard Service.
2.2. shall oversee the work of Bank of Russia Deputy Governor Tatiana Chugunova.
2.3. shall directly coordinate and control the work of the Human Resources and Personnel Management Department, the IT and Telecommunications Department, the Cash Circulation Department, the Field Institutions Department, the Central Depository, the Nudol Technological Centre, the Information Technology Centre, the Bank of Russia Interregional IT Centre, the Main Office of the Bank of Russia Capital Expenditure Review and Planning, the Main Office of Security and Information Protection (except for the issues, on which a structural division is subordinate to the Bank of Russia Governor) and the Interregional Security Centre.
3. Bank of Russia First Deputy Governor Alexey Simanovskiy:
3.1. shall deal with the following issues:
regulation and supervision of the activities of credit institutions and banking groups, including off-site supervision, inspection, licensing and financial rehabilitation of credit institutions;
organisational, information and analytical support for the Bank of Russia’s functions in the field of banking supervision over the activities of credit institutions, banking groups and the banking sector;
elaborating and implementing measures to raise the sustainability of credit institutions, banking groups and the banking sector;
interaction with the Basel Committee on Banking Supervision;
organisational, informational, methodological, analytical and other support for the Bank of Russia inspection activity;
coordination of the Bank of Russia inspection activity.
3.2. shall oversee the work of Bank of Russia Deputy Governor Vasily Pozdyshev, Bank of Russia Deputy Governor Mikhail Sukhov and Bank of Russia Deputy Governor – Head of the Bank of Russia Chief Inspection Vladimir Safronov.
4. Bank of Russia First Deputy Governor Sergey Shvetsov:
4.1. shall deal with the following issues:
ensuring stability and the development of the Russian financial market;
ensuring the access of non-credit financial institutions, their associations and financial market specialists to work in the financial market;
ensuring the access of instruments, including equity securities, investment units, mortgage participation certificates and standard exchange-traded contracts, to the financial market;
ensuring the protection of the rights and legitimate interests of investors in financial markets, insurance policyholders, insured persons and beneficiaries acknowledged as such pursuant to insurance legislation, and also insured persons under compulsory pension insurance, non-governmental pension fund depositors and participants under non-governmental pension provision schemes, other consumers of financial services (except for the consumers of banking services);
regulation, control and supervision in the area of corporate relations in joint-stock companies, including the activities of issuers as regards information disclosure;
regulation and control over the activities of rating agencies, actuarial activities, the activities of self-regulatory organisations in the area of financial markets;
developing financial market infrastructure and instruments;
ensuring control over the observance of the requirements of Russian Federation legislation on countering the illegal use of insider information and market manipulation;
monitoring the activities of organisations showing the signs of financial pyramid schemes;
coordinating interaction with international (foreign) bodies of regulation and supervision over non-credit financial institutions (including the International Capital Market Association (ICMA), the International Swaps and Derivatives Association (ISDA), the European Securities and Markets Authority (ESMA), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC));
coordinating interaction with the International Association of Insurance Supervisors (IAIS) and the International Organisation of Securities Commissions (IOSCO);
4.2. shall oversee the work of Bank of Russia Deputy Governor Vladimir Chistyukhin;
4.3. shall directly coordinate and control the work of the Financial Market Development Department, the Financial Market Access Department, the Non-credit Financial Institutions’ Statements Collection and Processing Department, the Main Office for Countering Malpractice in the Open Market and the Bank of Russia Service for Protection of Financial Services Consumers and Minority Shareholders.
5. Bank of Russia First Deputy Governor Ksenia Yudaeva:
5.1. shall deal with the following issues:
monetary policy;
reserves management;
refinancing and liquidity provision operations;
modelling and forecasting;
setting the official exchange rates of foreign currencies against the ruble;
the Bank of Russia’s work as the agent of the Pension Fund of the Russian Federation and the Russian Ministry of Finance in the government securities market;
supervision over the operation of systemically important financial market infrastructures;
monitoring risks in the development of the global economy and assessing their impact on the Russian financial sector;
identifying systemic risks in the financial sector and elaborating measures to mitigate these risks and raise the financial system’s sustainability;
the Bank of Russia’s participation in the G20 and the G8, the International Monetary Fund, the Financial Stability Board, the World Bank, the Bank for International Settlements and the Financial Sector Assessment Programme (FSAP);
5.2. shall oversee the work of Bank of Russia Deputy Governor – Director of the General Economic Department Nadezhda Ivanova;
5.3. shall directly coordinate and control the work of the Monetary Policy Department, the Market Operations Department, the Financial Stability Department and the Market Services Department.
6. Bank of Russia Deputy Governor Viktor Berestovoy:
6.1. shall deal with the following issues:
financial planning, financial estimates and control over spending on the Bank of Russia maintenance and the use of limits on capital expenditures and expenditures of the Social Fund;
documentary, organisational and information support for Bank of Russia divisions;
transportation, social amenities and health care services;
property and personal insurance;
setting (allocating) loan limits for Bank of Russia employees across Bank of Russia divisions;
taxation of the Bank of Russia;
financial and economic accounting in the Bank of Russia’s head office and Bank of Russia divisions financed from the budget of the Financial Department;
property ownership, use and disposal;
capital construction, the repair and operation of buildings, structures and their engineering systems;
material and technical provision for Bank of Russia divisions (except for material and technical provision for information systems and cash circulation).
6.2. shall directly coordinate and control the work of the Administrative Department, the Financial Department, the Main Office of the Bank of Russia Real Estate, the Property Maintenance Office, the Catering Centre, the Motor Vehicle Company, the Medical Centre, the Health-Improving Centre ‘Solnechny Gorodok’ and the Zvenigorodka recreation facility.
7. Bank of Russia Deputy Governor Vasily Pozdyshev:
7.1. shall deal with the following issues:
developing and implementing Bank of Russia approaches in the field of banking regulation;
developing and implementing Bank of Russia approaches in the field of banking supervision;
7.2. shall directly coordinate and control the work of the Banking Regulation Department and the Banking Supervision Department.
8. Bank of Russia Deputy Governor Dmitry Skobelkin:
8.1. shall deal with the following issues:
countering the legalisation (laundering) of criminally obtained incomes;
countering the financing of terrorism (with the approval of the Bank of Russia Governor);
foreign exchange control;
the Bank of Russia’s interaction with the Federal Financial Monitoring Service, including the issues of information exchange;
the Bank of Russia’s interaction with the Prosecutor General’s Office of the Russian Federation, law-enforcement, control and supervisory authorities on the issues of countering the legalisation (laundering) of criminally obtained incomes, and also stopping illegal financial operations;
the Bank of Russia’s participation in the Interdepartmental Working Group on Countering Illegal Financial Operations (with the approval of the Bank of Russia Governor);
interaction with international organisations – the Financial Action Task Force (FATF), the Committee of Experts of the Council of Europe on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL), the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG);
8.2. shall directly coordinate and control the work of the Financial Monitoring and Foreign Exchange Control Department.
9. Bank of Russia Deputy Governor Mikhail Sukhov:
9.1. shall deal with the following issues:
supervision of credit institutions included in the List of Systemically Important Credit Institutions;
elaborating and implementing measures to raise the sustainability of systemically important credit institutions and the banking sector;
licensing the activities of credit institutions and their financial rehabilitation;
developing international cooperation and public communications;
coordinating interaction with the Organisation of Economic Cooperation and Development (OECD) and the World Trade Organisation (WTO) on issues referred to the competence of the Bank of Russia;
9.2. shall directly coordinate and control the work of the Systemically Important Banks Supervision Department, the Credit Institutions Licensing and Financial Rehabilitation Department and the International Cooperation and Public Communications Department.
10. Bank of Russia Deputy Governor Vladimir Chistyukhin:
10.1. shall deal with the following issues:
the development of the insurance market;
regulation of the activities of investment funds and non-governmental pension funds, the management companies of investment funds, unit investment funds and non-governmental pension funds, the specialised depositories of investment funds, unit investment funds and non-governmental pension funds, agents for the issuance, redemption and exchange of investment units, insurance agents, professional securities market participants, microfinance organisations and other non-credit financial institutions;
regulation of organised trades and clearing activity (including the activity of the central counterparty);
control and supervision over the activities of investment funds and non-governmental pension funds, the management companies of investment funds, unit investment funds and non-governmental pension funds, the specialised depositories of investment funds, unit investment funds and non-governmental pension funds, agents for the issuance, redemption and exchange of investment units, insurance agents, professional securities market participants, microfinance organisations and other non-credit financial institutions;
control and supervision over the observance of legislation in the area of professional activities in the securities market, organised trades and clearing activity (including the activity of the central counterparty);
increasing the accessibility and quality of microfinance services;
10.2. shall directly coordinate and control the work of the Securities Market and Commodity Market Department, the Collective Investment and Trust Management Department, the Insurance Market Department and the Main Office of Microfinance Market and Financial Accessibility Methodology.
11. Bank of Russia Deputy Governor Tatiana Chugunova:
11.1. shall deal with the following issues:
the development, regulation, supervision and oversight in the national payment system;
the development of and support for the Bank of Russia payment system including the network of settlement institutions;
ensuring measures to manage budget accounts of the budget system of the Russian Federation;
settlements and accounting for operations conducted by the Bank of Russia;
11.2. shall directly coordinate and control the work of the National Payment System Department and the Bank of Russia’s First Operations Department (OPERU-1).
12. Bank of Russia Deputy Governor – Director of the General Economic Department Nadezhda Ivanova:
12.1. shall deal with the following issues:
organising and conducting operations to extend Bank of Russia secured loans to credit institutions in the currency of the Russian Federation, operations to take funds of Russian credit institutions on deposit with the Bank of Russia in the currency of the Russian Federation, providing methodological support for monetary instruments used by the Bank of Russia;
ensuring Bank of Russia’s participation in the capital of credit institutions, organisations providing for the activities of the Bank of Russia, its divisions, establishments and employees, as well as international financial institutions in the currency of the Russian Federation;
organising and coordinating the work of Bank of Russia divisions on the issues of compiling and specifying a forecast of the Bank of Russia’s financial performance, preparing proposals on the allocation of profit received by the Bank of Russia for a reporting year;
the procedure for forming and using the Reserve Fund of the Bank of Russia;
methodological support for creating, changing and using provisions for corresponding assets (contingent liabilities) of the Bank of Russia; monitoring of the quality of assets (contingent liabilities) of the Bank of Russia;
methodological support for extending loans to Bank of Russia employees, coordinating the work of Bank of Russia divisions on the issues of the provision of loans to Bank of Russia employees, organising and conducting work for making the loan limit for Bank of Russia employees (its reallocation) known to Bank of Russia divisions;
organising and coordinating the work of Bank of Russia divisions for the preparation of the Bank of Russia Annual Report, quarterly information of the Bank of Russia Board of Directors on the main issues of the Bank of Russia’s activities for the National Financial Board, other Bank of Russia general materials submitted to the federal government;
compiling monetary and financial statistics, the balance of payments, the international investment position, data on the international reserves and the external debt of the Russian Federation, direct investment in the Russian Federation and direct investment of the Russian Federation abroad and publishing these data for external users;
organising and coordinating work in the Bank of Russia on the issues of the compilation of statements by credit institutions, non-credit financial institutions and Bank of Russia divisions;
interaction with the Government of the Russian Federation, state authorities and international organisations on statistical issues;
compiling and maintaining statistical databases on the economy, the monetary sphere, financial markets and the external sector, organising access for Bank of Russia divisions to these databases;
organising and coordinating the work of Bank of Russia divisions for preparing and disseminating statistical data, including in compliance with the requirements of international statistical standards;
12.2. shall directly coordinate and control the work of the General Economic Department and the Statistics Department.
13. Bank of Russia Deputy Governor – Head of the Bank of Russia Chief Inspection Vladimir Safronov:
13.1. shall deal with the following issues:
inspections of credit institutions (their branches) and non-credit financial institutions organised and conducted by divisions of the Bank of Russia Chief Inspection;
organisation and coordination of interaction between the Bank of Russia Chief Inspection and Bank of Russia divisions in the conduct of inspections;
interaction with the Deposit Insurance Agency state corporation and, on behalf of the Bank of Russia management, with Russian and foreign institutions (including banking supervisory authorities) and international organisations on the issues of organising and conducting inspections of banks and non-credit financial institutions;
13.2. shall directly coordinate and control the work of the Bank of Russia Chief Inspection.
14. Bank of Russia Chief Auditor Valery Goreglyad:
14.1. shall deal with the following issues:
organising and conducting an internal audit in the Bank of Russia;
Bank of Russia cooperation with the Audit Chamber of the Russian Federation;
cooperation with an audit organisation acting as the auditor of the Bank of Russia annual financial statements;
monitoring of compliance in the Bank of Russia with the legislation and the Bank of Russia regulations on countering the illegal use of insider information and market manipulation;
14.2. shall directly coordinate and control the work of the divisions of the Bank of Russia Chief Auditor’s Service.
15. Bank of Russia Chief Accountant – Director of the Accounting and Reporting Department Andrey Kruzhalov:
15.1. shall deal with the following issues:
developing sectoral accounting standards for credit institutions, the Bank of Russia and non-credit financial institutions, a chart of accounts for the accounting of credit institutions and the procedure for its application, a chart of accounts for the Bank of Russia and the procedure for its application;
developing and providing methodological support for the regulatory framework for compiling financial statements under international standards;
maintaining accounting records of certain operations conducted by the Bank of Russia;
compiling complete and authentic information on the activities of the Bank of Russia and the state of its property.
15.2. shall directly coordinate and control the work of the Accounting and Reporting Department.
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