Financial market participant admission: Step 2 of centralisation

Starting from 1 September 2017, the state registration and banking licensing-related functions conducted by the Main Branch of the Central Bank of the Russian Federation for the Central Federal District and its divisions will be assigned to the Western Admission Centre (based in St. Petersburg), while those conducted by the Far-Eastern and Southern main branches and their divisions (divisions — national banks) — to the Eastern Admission Centre (based in Ekaterinburg).

The Bank of Russia is thus going ahead with its plans to implement a step-by-step transfer of these functions to its Western and Eastern Market Participant Admission Centres. At the first stage of the initiative, which began on 11 August, the Western centre took up the aforementioned functions, which were previously performed by the Bank of Russia's North-Western Main Branch and its divisions (divisions — national banks), while the Eastern admission centre took up the functions previously performed by the Ural Main Branch and its divisions (divisions — national banks).

The functions performed by the Volga-Vyatka and Siberian Main Branches are due to be transferred to admission centres before 2 October 2017.

The corresponding updates were made to the register Navigator of BoR Divisions’ Changes to Registration and Licensing Functions hosted by the BoR website (Information and Analytical Materials / Banking Sector / Financial Market Participant Admission.) This navigator will help financial institutions stay current with any changes to the remits of BoR structural divisions.