CBR continue to discuss idea of creating fund for compensation of losses for investors whose funds have been frozen

MOSCOW. Nov 11 (Interfax) - The Central Bank of Russia (CBR) continues to discuss the idea of creating a compensation fund for investors whose assets have been frozen, CBR First Deputy Governor Vladimir Chistyukhin told reporters on the sidelines of the Finopolis forum.

"We continue to discuss this. We are still having an internal discussion about it," Chistyukhin said.

"There are a number of significant issues here both in terms of the international agenda and approaches to domestic regulation," the CBR official said.

CBR Governor Elvira Nabiullina said in early September that the Central Bank is discussing the idea of creating a fund to compensate the losses of investors whose assets were frozen. According to her, this fund could be created on the basis of the Deposit Insurance Agency (DIA) and replenished at the expense of revenues coming from nonresident assets frozen by Russia.

The Russian Finance Ministry believes that it would be more appropriate to discuss the idea of voluntary exchange of frozen assets of Russian investors abroad for assets of nonresidents frozen by Russia, Deputy Finance Minister Alexey Moiseyev said earlier.

When asked about the disagreement between the Central Bank and the Finance Ministry on the issue of assistance to Russian investors with frozen assets, Chistyukhin said that it is necessary to wait for substantive proposals.

"In order for me and my colleagues from the Finance Ministry to discuss this issue properly, we need to come out not with a general proposal, but with a thorough approach. We have not done that so far," he said.