On the National Financial Board meeting

On 13 December 2017, the National Financial Board (NFB) meeting reviewed the Monetary Policy Guidelines for 2018-2020, as well as information from the Bank of Russia’s Board of Directors on key issues of the Bank of Russia’s operation in the third quarter of 2017.

Meeting participants discussed the development of the national payment card system in Russia and new technologies in the field of finance and security of automated banking systems and payment systems, as well as the development strategy for remote identification and banking services, and heard the report on the operations of the Bank of Russia Chief Auditor’s Office in 2017.

The NFB approved total staff costs, pension expenses, expenses on life and medical insurance of Bank of Russia employees, capital investments, and other general and administrative expenses of the Bank of Russia for 2018.

The National Financial Board chose the consortium of Ernst & Young LLC and FinEkspertiza LLC to audit the Bank of Russia’s annual financial statements for 2017.

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