Bank of Russia proposes major resolution reforms
New law would considerably extend central bank’s powers
The Bank of Russia has proposed taking over the task of resolving distressed banks from another government agency, it announced in a press release, issued recently in English.
The proposal is likely to be realised, as the Russian parliament is considering a government-sponsored draft law on banking resolution.
The central bank said it had drafted a reformed set of resolution regulations to coincide with the second reading of the law by parliament. The draft law would transfer responsibility
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