Central Bank of Russia will closely monitor the financial sector. At the end of March this year the Central Bank of Russia has approved a new plan for monitoring the financial organizations and institutions. An article on this appeared in the newspaper Kommersant last week.
The main innovation is the ability to correct financial institution failures found during testing, until completion of verification activities. If verification of what - or the organization will be found a violation or defect, it can be corrected until the audit is completed in other areas of the company.
This measure is designed to increase the quality and efficiency of banks. Appropriate level of control will be installed in more than two hundred financial institutions. Also in the near future will be developed and adopted a new bill that would limit the amount of contributions from individuals. This measure should help reduce the risk on deposits. Also, it should increase the degree of responsibility of the bank to depositors
The main innovation is the ability to correct financial institution failures found during testing, until completion of verification activities. If verification of what - or the organization will be found a violation or defect, it can be corrected until the audit is completed in other areas of the company.
This measure is designed to increase the quality and efficiency of banks. Appropriate level of control will be installed in more than two hundred financial institutions. Also in the near future will be developed and adopted a new bill that would limit the amount of contributions from individuals. This measure should help reduce the risk on deposits. Also, it should increase the degree of responsibility of the bank to depositors
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