Offers Association of Russian Banks

The national banking system of Russia withdrew from the July «crisis». CBR and the banking community have taken several measures to stabilize the situation. Investors calmed down, agiotage asleep. To the market for interbank lending. However, much remains to be done, that the situation is fully normalized.

Firefighters must extinguish
Association of Russian Banks has developed a package of the banking community, which are aimed at overcoming the effects of the July events, as well as to avoid future serious problems in the development of the national banking system. According to the President of ARB Garegin Tosunyana primarily to amend the law on securities. At the Bank of Russia must be held responsible for failure in the event of a threat of systemic crisis banking system. It's no secret that some leaders of the Central Bank of Russia, there is a kind of «complex Alexeyeva» (Alexeev - a high-ranking official of the Central Bank, was convicted for issuing a stabilization loan bank SBS-Agro). According to image the expression Tosunyana, «firefighter for the fire not only may, but need to apply all types of fire extinguishers». In other words, the function of lender of last resort - not only the opportunity to control, but his direct responsibility. The Association also presents the CBR to the establishment of a bank stabilization pool. True, it is still not clear, it will be created under the auspices of the Central Bank, or the banks themselves «off» for colleagues caught in an awkward position.

Strengthen immunity
Association of Russian banks have urged the Bank of Russia to expand the list of securities secured by the Central Bank of Russia carries out refinancing of commercial banks to include the shares of state and first-class public and private corporate issuers.

ARB also proposes to amend Art. 837 Civil Code of the Russian Federation, with the introduction of this new contract irrevocable bank deposits, thereby increasing long-term resources of banks. According to G. Tosunyana, which he made at a government meeting to discuss monetary policy in 2005, strengthening the banking supervision should take place with the banking community and its self-organization, which is accompanied by a samonadzorom. He stressed that «one can not be made more stringent oversight of all market participants ideal».

ARB also proposes to allow commercial banks on a competitive basis to care budgets and extra-budgetary funds at all levels. In addition, the banking community, represented by the Association raised the issue long before the supervisory authority of the maximum reduction of the volume of reporting.

In any case, but the banking system of Russia ran into another test, or even significantly enhanced with their immunity. The largest Russian banks hardly touched «crisis of confidence». On the contrary, some of them (eg, bank), even much stronger. It is not known to the world's rating agencies, in particular, S & P and Fitch, are collected in the first half of 2005 to improve the rating, even Russia.

Maxim Roslyakov