30 Oct 2012 13:35

Russian, European central banks launch 3-yr cooperation program

MOSCOW. Oct 30 (Interfax) - The Central Bank of Russia (CBR) and the European Central Bank (ECB) signed a three-year memorandum of understanding on October 24, the CBR reported.

The memorandum provides for information sharing and cooperation in the economic and financial spheres, as well as a program of joint measures.

During the first year, emphasis will be placed on issues related to monetary policy, financial stability and bank supervision.

This cooperation project was kicked off on October 25 during a CBR delegation's visit to the ECB, headed by the CBR's Deputy Chairman Sergei Shvetsov.