Foreign Exchange Policy Advisory Board of Central (National) Banks of the Eurasian Economic Union Member States holds its 21st meeting
On 15 April 2021, Governor of the Bank of Russia Elvira Nabiullina headed the extended online meeting of the Foreign Exchange Policy Advisory Board of Central (National) Banks of the Eurasian Economic Union (EAEU) Member States, which was also attended by the representatives of the Ministry of Finance of the Republic of Belarus, Kazakhstan’s Agency for Regulation and Development of the Financial Market, and the State Service for Regulation and Supervision of the Financial Market under the Ministry of Economy and Finance of the Kyrgyz Republic.
The parties discussed the progress of work on the draft Standardised Licence Agreement aimed at streamlining the establishment of bank subsidiaries and insurance companies within the EAEU, and also exchanged views on the status, functions and powers of the supranational body for regulating the financial market, the creation of which is stipulated by the Agreement on the Eurasian Economic Union of 29 May 2014.
Moreover, the heads of financial regulators discussed the current economic situation in the EAEU member states, paying particular attention to assessing the efficiency of national measures taken to mitigate the pandemic-induced negative impact on the economy.