Belarus, Russia sign agreement on financial market oversight
MINSK. June 19 (Interfax) - An agreement between the government and the National Bank of Belarus (NBB) and the government and the Central Bank of Russia on cooperating and exchanging information, including confidential information, particularly to supervise and/or control the financial market, was signed during a meeting of the Eurasian Council of Central Banks held in Sochi on June 17-18, the NBB said.
A regular meeting of the advisory council on the currency policy of the central (national) banks of the EAEU member states was also held in Sochi.
As reported, the main directions of monetary policy, and activities in the Environmental, Social, Governance (ESG) area were discussed during the meeting of the Eurasian Council of Central Banks, and the results of the banking sector for 2023 and the prospects for its development in 2024.
The meeting of the advisory council on currency policy considered approaches to the harmonization of legislation in the financial market, as well as the impact of decisions in the field of fiscal policy on monetary policy.
Previously, the Belarusian government authorized the Minister of Finance of the Republic Yuri Selivestrov to sign an agreement with the Ministry of Finance and the Central Bank of the Russian Federation on supervision of the financial market.
Belarusian President Alexander Lukashenko this past April approved the draft of the corresponding agreement by his decree. The presidential press service noted that the document would be signed in order to strengthen the reliability and ensure the stability of financial markets. The agreement defines the methods of exchanging information between the supervisory authorities of Belarus and the Russian Federation within the framework of supervision and control in financial markets. It also provides for a procedure for supervisory authorities to conduct joint inspections of financial market participants with cross-border institutions, and the possibility of creating joint supervisory boards.