Financial market development: opinions of participants and experts

Vladimir Chistyukhin, First Deputy Governor of the Bank of Russia, noted that a new reality identified a number of problems that require timely solutions to maintain the potential for the development of the economy and the financial market. The problem of long-term money is becoming extremely pressing. ‘In the near term, we should focus on the domestic market,’ Vladimir Chistyukhin pointed out. ‘The current configuration of the financial system shows that banks have limited resources for long-term financing that is why they are narrowing their investment horizon. New institutional investors with a high risk appetite are a must.’

Market participants discussed possible long-term finance instruments, the range of potential institutional investors including those from friendly countries, and the opportunities for the stock market development.

A special focus was given to the recovery of confidence in the financial market, its further digitalisation, and the creation of the infrastructure for cross-border settlements.

Proposals and initiatives put forward by market participants and experts will be taken into consideration when preparing the Russian Financial Market Development Strategy for the next eight years, which would reflect basic global and national economic, technological and social trends to timely respond to arising challenges and take advantage of new opportunities.