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The Central Bank will present a new concept of regulation of the banking sector by the end of the year

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The Bank of Russia expects to present a new concept of regulation of the banking sector by the end of 2022. This was stated by the head of the financial regulator Elvira Nabiullina at the Finopolis forum.

"We are going to present this concept before the end of the year. The first major change in regulation is that we want to encourage banks to lend more to structural transformation projects. This is our conceptual approach, it requires the development of criteria by which banks will be able to select. This is the first innovation, a risk-based incentive approach," Nabiullina said.

According to her, the task of the Central Bank will be to adjust the regulatory requirements for standards, as well as to assess market, interest rate and currency risks. This issue will be on the agenda in connection with the growing crisis and taking into account national specifics.

"Attention will also be paid to improving the quality of capital - it is very important for us that the banking system retains real capital to lend," the head of the Bank of Russia added.

Read more interesting news in our Telegram channelAuthor: Alexander Baigazin

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