No additional measures to ease bank regulations planned - Simanovsky
MOSCOW. March 16 (Interfax) - The Central Bank of Russia is not planning any additional measures to ease bank regulations, First Deputy Central Bank Governor Alexei Simanovsky said at Russian Business Week organized by the Russian Union of Industrialists and Entrepreneurs (RSPP).
"I must say, unfortunately, that we do not realistically see any additional measures to ease regulations," Simanovsky said, noting that the Central Bank made a number of accommodations for banks in December.
"They [December measures] were calculated in order to give the opportunity to the system to adapt quite difficult economic processes. And now our task is, if there are no extraordinary events, we are hoping, in any case, on this basis, to gradually leave this paradigm of extraordinary measures, which are aimed at mitigating the regulatory field," Simanovsky said.
He said that the Central Bank may change the direction of regulation depending on risks in the banking sector.
"The regulation is oriented to the level of real risks, and, if we see some risks we overestimated, it is clear, that this could concern adjusting regulation in one direction. If we see, as often happens, unfortunately, that we underestimated the risks, we are forced to adjust regulation to the other side, this is an absolutely ordinary situation," the deputy Central Bank governor said.
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