Novak replaces Belousov as head of nat'l financial stability council, Zabotkin replaces Yudaeva

MOSCOW. Dec 20 (Interfax) - Russian Deputy Prime Minister Alexander Novak has replaced Defense Minister Andrei Belousov as chairman of the National Council for Financial Stability, and Prime Minister Mikhail Mishustin signed the corresponding order on December 19.

Central Bank of Russia Deputy Governor Alexei Zabotkin has also replaced Ksenia Yudaeva as a representative from the Central Bank in the council's composition. Yudaeva was appointed executive director from Russia at the International Monetary Fund in November, and she was previously advisor to the governor of the Central Bank of Russia.

Ilya Torosov, who resigned as first deputy economic development minister in October, has also been removed from the council in addition to Belousov, who was appointed defense minister in May, and Yudaeva.

Established in 2013, the National Council for Financial Stability analyzes the results of monitoring the state of financial and commodity markets, assesses the level of systemic risks and methods for determining systemically important financial institutions, as well as develops measures to restore financial stability. The council's decisions are advisory in nature.