Russian Federation Financial Sector Assessment Program
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Russian Federation
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Business & Economics categories.
This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the area of macroprudential policy. Financial stability oversight responsibilities are currently shared between the Central Bank of Russia (CBR) and the high-level interagency National Council on Ensuring Financial Stability. In recent years, the CBR has used a number of macroprudential tools to deal with risks, mainly those stemming from retail lending. The CBR has tightened provisioning requirements and increased capital risk weights to curb excessive growth of unsecured consumer lending, which has helped banks better handle credit risk that materialized. However, the CBR law should be amended to provide for a more comprehensive set of macroprudential tools.
Russian Federation
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Business & Economics categories.
This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of bank resolution and a crisis management framework. The findings reveal that the experiences of past financial crises have strengthened the Russian bank resolution framework. The resolution framework has been effective in preserving financial stability. Since January 2014, 28 banks have been placed in open bank resolution, and three were resolved by purchase and assumption transactions. The effectiveness of bank resolution could be improved. Introduction of the full range of resolution powers and safeguards recommended by the Financial Stability Board Key Attributes would improve the framework’s effectiveness.
Russian Federation
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Business & Economics categories.
This paper evaluates observance of the Basel Core Principles for Effective Banking Supervision in the Russian Federation. The legal framework currently in place provides the Central Bank of Russia (CBR) with necessary powers and responsibilities. The CBR may authorize banks, conduct ongoing supervision, oversee compliance with laws, and undertake corrective action to address safety and soundness. Major new reforms increase many aspects of the CBR’s duties and powers, although implementation has not yet been tested in all cases. The Russian licensing regime for banks appears exhaustive. However, the legal regime for major acquisitions was found to be weak.
Russian Federation Financial Sector Assessment Program
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation Financial Sector Assessment Program written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Business & Economics categories.
This Technical Note discusses the results of the stress testing carried out as part of the 2016 Financial Sector Assessment Program for the Russian Federation. The stress tests focused on banks, reflecting the structure of the Russian financial sector, which is relatively small and bank dominated. The results showed that the banking system is likely to need additional capital. Even in the baseline scenario, certain banks will need new capital owing to low profitability and increasing credit losses. The required resources are higher in the stress scenarios, but remain manageable. If public funds are needed for recapitalization, there is sufficient fiscal space, provided that fiscal policy remains prudent.
Russian Federation
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-22
Russian Federation written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-22 with Social Science categories.
This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of anti–money laundering and combating the financing of terrorism. Some authorities have gained a better understanding of money laundering and terrorism financing risks. Swift finalization of the national risk assessment will further advance that understanding and the use of a risk-based approach by all concerned agencies and reporting entities. Preventive measures related to politically exposed persons and reporting of suspicious transactions were updated and are largely in line with the Financial Action Task Force standards. However, the definition of politically exposed persons must be further amended, and the effectiveness of the measures should be enhanced.
Financial Sector Assessment
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Author :
language : en
Publisher:
Release Date : 2016
Financial Sector Assessment written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Russian Federation Financial Sector Assessment Program
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Author :
language : en
Publisher:
Release Date : 2016
Russian Federation Financial Sector Assessment Program written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The establishment of the Central Bank of the Russian Federation (CBR) as a unified or 'Mega Regulator' in 2013 is an emblem of the far reaching changes to the legal and supervisory landscape in recent years. The level of compliance with the Basel Core Principles (BCP) reflects the transitional nature of the supervisory practices in Russia at the time of the assessment. The CBR is in the course of developing and enhancing its Risk Based Approach to supervision. The regulatory approach in the Russian Federation is highly rules based and this presents some specific challenges to an effective risk based supervisory regime. Supervision and Anti-Money Laundering and/Countering Terrorist Financing (AML/CFT) regulations have been improved. Effective communication and flow of information has been improving but some limitations still apply.
Russian Federation
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-13
Russian Federation written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-13 with Business & Economics categories.
This paper discusses key findings of the Financial System Stability Assessment of Russian Federation. The Russian banking system is weak and likely to need additional capital. Even in the baseline scenario, certain banks will need new capital owing to low profitability and increasing credit losses. The required resources increase in the stress scenarios, but remain manageable. Bank regulation and supervision have greatly improved in recent years, but there is more to be done. Key areas for improvement include related party lending, country and transfer risks, operational risks, and supervisory interactions with external auditors. In addition, the implementation of risk-based supervision is also in progress.
Russian Federation
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2011-09-27
Russian Federation written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-27 with Business & Economics categories.
Even though the Russian authorities have maintained financial stability at the time of a major global shock, the financial system is still weak. The crisis has set back progress toward a strong, competitive banking system for the future. The recent unification of the supervision of nonbank financial institutions is an opportunity for strengthened oversight. A more structured corrective action regime and a unified administration regime for all banks, with broad powers for the administrator, would help strengthen the system further.
Russian Federation
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-04-21
Russian Federation written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-21 with Business & Economics categories.
This paper presents the Financial Sector Stability Assessment Update on the Russian Federation. Indicators of bank soundness and performance are broadly favorable but credit risk poses a challenge over the medium term, and capitalization should rise to support continued banking sector development. The system has weathered the global credit crunch that began in mid-2007, yet the funding model is coming under strain as the turmoil in global markets continues. Capital markets have grown dramatically in recent years but remain highly concentrated.