December issue of Bank of Russia Money and Credit is published

Here are the main topics of the issue:

Banking Regulation in 2015-2016: Key Changes and Outlook. Vladislav Pozdyshev, the Bank of Russia Deputy Governor, describes the measures implemented by the Bank of Russia as regards banking regulation in 2015 and what is planned for 2016. The Bank of Russia is going to strengthen its counteraction to various schemes used to artificially augment the capital and conceal the actual risk level.

Upgrading Regulation of Credit Consumer Cooperatives in Russia, written by Mikhail Mamuta, the head of the Bank of Russia Main Office of Microfinance Market and Financial Inclusion Methodology, and Alexey Chirkov, in charge of the cooperative regulation sector. The article starts with the first days, development and regulation of the credit cooperation in Russia. While analysing the current situation in this sphere, the authors address the importance of observing the principle of community of credit cooperative members to add to soundness of this financial association.

Certain Topical Issues Pertaining to Enhancing the Quality of Bank’s Operations are analysed by Anatoly Milyukov, Ph. D. in Economics, Vice President of the Association of Russian Banks, head of the ARB coordination committee for banking quality standards. The author looks into the system of banking standards as an instrument to improve the banking activity and strengthen the banking system. Although small in its volume, the article succeeds in not only determining the gist and specifics of banking standards, their principles, types, structure and functions, but also in describing the way to involve banks in standard implementation; to define those spheres of banking activity where standardisation is a must.

Auditing at the Bank of Russia: Brainstorm and Auditing Sociometry, written by Nikolay Surikov, the Director of the Bank of Russia Internal Auditing Department. The author tells the readers about a complex of trainings, business games and tests set in September 2015 for both the management and employees of Bank of Russia internal audit centres. Within four days, the trainees arranged brainstorms and tackled new challenges. When the round was over, they had quizzes and established business interaction with their colleagues from different regions. All the participants were observed by specialists.