Alexander Murychev, first executive vice president at Russian Union of Industrialists and Entrepreneurs
Photo: Dmitry Kostyukov
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Russian Union of Industrialists and Entrepreneurs Eager to Revive Bank Elite
The Central Bank of Russia (CBR) will probably have a new division to supervise the biggest banks in the county, a certain analogue of OPERU-2 oversight body wound up in 1998. At least the Russian Union of Industrialists and Entrepreneurs is discussing creation of such authority while preparing for November get-together of the State Council.
Creating a special supervisory authority for the biggest credit institutions was the concern of the recent meeting of the Russian Union of Industrialists and Entrepreneurs. Establishment of such body is the initiative of big banks, said Alexander Murychev, first executive vice president of the Union.
“They are interested in the more direct access to supervisory bodies. For CBR, it could be of interest in terms of improving supervising procedures. The United States and a lot of countries in Europe have similar structures,” Murychev explained, specifying the issue is still at the stage of elaboration.
The market says this body could be advantageous to the state banks, while Moscow Territorial Branch of the CBR that services the better part of the biggest banks will hardly benefit from it. Private bankers don’t seem very encouraged by the idea either. “We don’t fear tougher control because of new structure’s creation,” said Ilkka Salonen, board chairman at International Moscow Bank. “But at the same time, we don’t see its expediency.”
www.kommersant.com
All the Article in Russian as of Oct. 19, 2006
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