National Financial Board holds meeting

On 7 December 2020, the National Financial Board (NFB) meeting considered the Monetary Policy Guidelines for 2021–2023 and reviewed the information from the Bank of Russia Board of Directors on the key issues of the regulator’s activities in 2020 Q3.

The participants in the meeting discussed a range of issues, including the elaboration of a single policy to improve Russians’ financial literacy, the proportionate regulation in the banking sector, and the first results of the implementation of Federal Law No. 320-FZ, dated 3 August 2018, ‘On Amending Certain Laws of the Russian Federation’ providing for voluntary home insurance against emergencies and other risks, and heard the BoR Chief Auditor’s report on the operation of the Bank of Russia Chief Auditor’s Office in 2020.

The NFB approved Bank of Russia regulations on accounting in the Bank of Russia, as well as total staff costs, expenses for pensions, life and health insurance of Bank of Russia employees, capital investments, and other general and administrative costs of the Bank of Russia for 2021.

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