Alexey Simanovsky, who heads the CBR department for bank control and supervision, doubts the banks, CBR and other regulators will reach consensus, especially when it comes to monetary and credit policy and tax and budget relations.
Photo: Dmitry Azarov
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ARB Thinks of Future
Association of Russian Banks (ARB) presented the draft program, National Banking System of Russia in 2010-2020, at the yesterday’s sitting of the Federation Council’s interregional banking board. The program that calls for facilitating bank activities, lowering tax burden and softening bank supervision was skeptically taken by Central Bank of Russia (CBR). As to the bankers, they think only some of its provisions are advisable and view the better part of it either insignificant or utopian.
The most vital proposals of the ARB program are facilitating ‘recovery against property procedure’, canceling requirement that commits commercial banks to process tax payments free of charge, facilitating procedures for launching affiliates, additional offices, narrowing requirement for technical equipment of box offices and some others. But it appears their implementation will take a lot of time, the more so that the attitude of bankers to them is rather skeptical.
The provision that specifies facilitating procedures for the launch of affiliates and additional offices and cuts down requirement for box office equipment is rather ambiguous, said Viktor Zhidkov, head of financial market department of MDM Bank. Only the banks that are just intending to promote the chain of affiliates will gain competitive advantage, Zhidkov specified.
The ARB proposals were not hailed by the CBR as well. According to Alexey Simanovsky, director of the CBR department for bank regulation and supervision, the banks, CBR and other regulators will hardly reach consensus, especially when it comes to monetary and credit policy and tax and budget relations.
“I don’t think ARB expects the program to be implemented in the near years,” said Alfa Bank analyst Natalia Orlova. “More likely than not, it is the bid for the future.”
www.kommersant.com
All the Article in Russian as of Apr. 05, 2006
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