Bank of Russia submits proposals to Association Russia, Association of Russian Banks and National Financial Market Council on regulation of regional banks

Today Bank of Russia submits proposals on proportional banking regulation and related regional banks’ prospects to the leading banking associations: Association Russia, Association of Russian Banks and National Financial Market Council.

The Saint Petersburg International Financial Congress in early July was the first to give rise to proportional banking regulation concept (three-tier banking system concept). The business community discussed the proposals for a few months. The Regulator introduced an updated version of the concept at the International Banking Forum in Sochi held on 8 to 9 September.

The Bank of Russia relies on continued dialogue with the community of professionals and calls for opinions on the new proposals and as to how the proposed business model meets the banks’ requirements.