Russia
Ten firms submit material for audit tender, Russia
RUSSIA - Ten audit firms have submitted additional materials for participation in a tender to perform an annual audit on the Central Bank of Russia for 2001, deputy head of the State Duma budgetary committee, Ashot Yegiazaryan, told Interfax.
Russia's Geraschenko to step down in a year's time
RUSSIA - Russian financiers were in lively discussion of the probable resignation of Central Bank Chairman Viktor Geraschenko. Until now, Geraschenko always smiled when asked to confirm or deny rumors concerning his impending resignation. On 20 September…
IMF's Koehler to visit Russia 9-12 Oct, Official
RUSSIA - International Monetary Fund Managing Director Horst Koehler will visit Russia 9-12 October and an IMF mission will spend a week in Russia starting 10 October, a Russian official said Thursday 27 September.
Russians allowed to open accounts in foreign banks
RUSSIA - Russia's Central Bank allowed Russian citizens to open accounts in foreign banks for non-business purposes, according to the CBR ruling, published in CBR's official bulletin today, 19 September. The ruling takes affect in ten days.
Russia ponders measures to boost banking sector
RUSSIA - Russia is considering the creation of a deposit protection scheme and measures designed to increase competition within the country's poorly developed banking sector, under reform plans being drawn up for cabinet discussion this month.
Talks on Russian bank reforms
RUSSIA - Top national and international policymakers are set to meet at Russia's central bank today, Tuesday 11 Sep, to discuss options for restructuring the country's banks.
Top banker blasts Russian bank reform blueprint
RUSSIA - Central Bank head Viktor Gerashchenko criticised a blueprint for banking reform, saying in a letter to Finance Minister Alexei Kudrin that plans to divide banks into three tiers could damage the stability of the entire sector.
Russia to convert reserves of D-marks into euros
RUSSIA - Russia's central bank will convert a small part of its foreign currency reserves into euros following Europe's transition to its new currency, bank chairman Viktor Gerashchenko said on 3 September.
Russian bank chief hits at government policy
RUSSIA - Russian bank chief hits at government policy - Economic programme 'not properly thought through', says Gerashchenko.
Russian bank tension up as reforms threaten region
RUSSIA - Tension is growing over rival long-delayed measures to reform Russia's banking system as government officials prepare recommendations scheduled to be put forward at the end of September.
World Bank optimistic on Russian reforms
RUSSIA - The World Bank's chief economist for Russia said he was cautiously optimistic about the outlook for the country, but banking reform and economic diversification were key tasks ahead.
New currency law not seen hurting Russian reserves
RUSSIA - The reduction in the amount of hard currency companies are obliged to exchange for roubles is not expected to have a major impact on the forex market nor prevent the central bank from building up it foreign currency reserves, dealers said on 31…
Russian central bank says monetary base rose
RUSSIA - Monetary base rose to 614.1 billion rubles as of 23 July which is up 0.2% from 613.1 billion rubles as of 16 July, the Central Bank of Russia said in a report on 27 July.
Russia to draft new forex control law by October
RUSSIA - The Russian government intends to draft a new, more liberal law on hard currency controls and regulations by October, the Finance Ministry said yesterday, 24 July.
Russian major bank ratings improve
RUSSIA - Fitch, the international rating agency, has changed the Outlook to Positive from Stable assigned to the Long-term ratings of 'B' of the Savings Bank of the Russian Federation (Sberbank) and Vneshekonombank (VEB). The banks' Short-term,…
Russian bank reform - key topic at autumn session
RUSSIA - Minister for Economic Development and Trade of Russia, German Gref, after the traditional meeting of Russia s President Vladimir Putin with the m embers of the Cabinet in the Kremlin informs, that Putin demands that actions o f the Central Bank…
Russian C Bank stripped of right to control audits
RUSSIA - On 13 July, the Russian State Duma adopted in third and final reading two bills, entitled On auditing activities and on the state registration of legal entities.
Russian duma gives easy passage to currency law
RUSSIA - Russia's parliament on 13 July supported President Vladimir Putin's plan to liberalise currency controls, ignoring a central bank request to postpone approval until the autumn.
IMF deal forbids Russian bank gold sales
RUSSIA - Russia's deal with the International Monetary Fund (IMF) would forbid Moscow from selling gold from central bank reserves, even to help in emergencies, a government source said on 25 May.
State Duma passes IMF package on its third reading
RUSSIA - The Russian State Duma has passed upon its third and final reading a package of bills initiated by the International Monetary Fund to restructure the Russian banking system.
Gerashchenko gloomy on Russian banks
Interviewed in The Banker magazine (May 2001 edition) Viktor Gerashchenko, head of Russia's central bank painted a gloomy picture of the state of Russia's banking system.
Belarus, Russia can adopt single currency by 2005
RUSSIA - Viktor Gerashchenko, head of the Russian Central Bank, said during his visit to Mahilyow on Mar 30 that Belarus and Russia could adopt a single currency before 2005 provided there were necessary economic conditions.
CBR asks government to repay its debts
RUSSIA - Bank of Russia recorded a pretax profit of about R4bn for 2000, Governor Viktor Gerashchenko reported, but the government still needs to repay its debt to the central bank.
Russian bankers to participate in symposium
A delegation of Russian bankers and economists will participate in a three day symposium in India beginning on Mar 22, 2001.