Cover IMF Staff Country Reports
Buy Book in Print
Russian Federation: Report on the Observance of Standards and Codes-Basel Core Principles for Effective Banking Supervision
Author:
International Monetary Fund. Monetary and Capital Markets Department
Search for other papers by International Monetary Fund. Monetary and Capital Markets Department in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 232
Language:
English
Publication Date:
13 Jul 2016
DOI:
https://doi.org/10.5089/9781475517323.002
ISBN:
9781475517323
ISSN:
1934-7685
Pages:
36
Keywords:
ISCR; CR; CBR law; CBR bank supervision; CBR liquidity metrics; risk management; banking sector; country risk; CBR payment system; CBR inspection; CBR approval; CBR letter; onsite program; CBR network; CBR supervision; federal state; SREP regime; Correspondent banking; Legal support in revenue administration; Credit; Basel Core Principles; External audit; Global
Download PDF (982.8 KB) Download Epub
This paper presents an assessment of the level of implementation of Basel Core Principles for Effective Banking Supervision in Russian Federation. The legal framework currently in place provides the Central Bank of the Russian Federation (CBR) with necessary powers and responsibilities. The Russian licensing regime for banks appears exhaustive. The legal and regulatory framework provides CBR with a set of instruments and tools to ensure that the licensing process is sound. CBR also has the power to review, reject, and impose prudential conditions on any proposals to transfer significant ownership or controlling interests held directly or indirectly in existing banks to other parties. However, the legal regime for major acquisitions in Russia is found to be weak.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund