Central Bank's current oversight service to assess economic state of banks
MOSCOW. Feb 3 (Interfax) - The Central Bank has made a further step towards centralizing bank oversight, by making the service for current banking oversight that it setting up within its central apparatus responsible for assessing and monitoring the economic state of banks.
The Central Bank has posted daft amendments to instruction 2005-u on the assessment of the economic state of banks on its website and added the new current oversight service that it is setting up within its central apparatus to its list of divisions.
Central Bank Governor Elvira Nabiullina said in December last year that as separate department for current banking oversight was being set up and which would inherit regional oversight functions. The new service will be headed by Olga Polyakova, who became a Central Bank deputy governor in the middle of December 2016.
The Central Bank's main directorates and its department responsible for overseeing systemically important banks will also be able to assess the economic situation at banks.