Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the area of macroprudential policy. Financial stability oversight responsibilities are currently shared between the Central Bank of Russia (CBR) and the high-level interagency National Council on Ensuring Financial Stability. In recent years, the CBR has used a number of macroprudential tools to deal with risks, mainly those stemming from retail lending. The CBR has tightened provisioning requirements and increased capital risk weights to curb excessive growth of unsecured consumer lending, which has helped banks better handle credit risk that materialized. However, the CBR law should be amended to provide for a more comprehensive set of macroprudential tools.
Download or read book Russian Federation Financial Sector Assessment written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russian Federation: Financial Sector Assessment Program: Detailed Assessment of Observance Basel Core Principles for Effective Banking Supervision (BCP)
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-09-27 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even though the Russian authorities have maintained financial stability at the time of a major global shock, the financial system is still weak. The crisis has set back progress toward a strong, competitive banking system for the future. The recent unification of the supervision of nonbank financial institutions is an opportunity for strengthened oversight. A more structured corrective action regime and a unified administration regime for all banks, with broad powers for the administrator, would help strengthen the system further.
Download or read book Russian Federation written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-07-13 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment of Russian Federation. The Russian banking system is weak and likely to need additional capital. Even in the baseline scenario, certain banks will need new capital owing to low profitability and increasing credit losses. The required resources increase in the stress scenarios, but remain manageable. Bank regulation and supervision have greatly improved in recent years, but there is more to be done. Key areas for improvement include related party lending, country and transfer risks, operational risks, and supervisory interactions with external auditors. In addition, the implementation of risk-based supervision is also in progress.
Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of bank resolution and a crisis management framework. The findings reveal that the experiences of past financial crises have strengthened the Russian bank resolution framework. The resolution framework has been effective in preserving financial stability. Since January 2014, 28 banks have been placed in open bank resolution, and three were resolved by purchase and assumption transactions. The effectiveness of bank resolution could be improved. Introduction of the full range of resolution powers and safeguards recommended by the Financial Stability Board Key Attributes would improve the framework’s effectiveness.
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-04-21 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents the Financial Sector Stability Assessment Update on the Russian Federation. Indicators of bank soundness and performance are broadly favorable but credit risk poses a challenge over the medium term, and capitalization should rise to support continued banking sector development. The system has weathered the global credit crunch that began in mid-2007, yet the funding model is coming under strain as the turmoil in global markets continues. Capital markets have grown dramatically in recent years but remain highly concentrated.
Download or read book Russian Federation Financial Sector Assessment Program written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses the results of the stress testing carried out as part of the 2016 Financial Sector Assessment Program for the Russian Federation. The stress tests focused on banks, reflecting the structure of the Russian financial sector, which is relatively small and bank dominated. The results showed that the banking system is likely to need additional capital. Even in the baseline scenario, certain banks will need new capital owing to low profitability and increasing credit losses. The required resources are higher in the stress scenarios, but remain manageable. If public funds are needed for recapitalization, there is sufficient fiscal space, provided that fiscal policy remains prudent.
Download or read book Financial Sector Assessment written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Russian Federation written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses the findings and recommendations made in the Financial Sector Assessment Program for the Russian Federation in the areas of anti–money laundering and combating the financing of terrorism. Some authorities have gained a better understanding of money laundering and terrorism financing risks. Swift finalization of the national risk assessment will further advance that understanding and the use of a risk-based approach by all concerned agencies and reporting entities. Preventive measures related to politically exposed persons and reporting of suspicious transactions were updated and are largely in line with the Financial Action Task Force standards. However, the definition of politically exposed persons must be further amended, and the effectiveness of the measures should be enhanced.
Download or read book Russian Federation written by and published by . This book was released on 2003 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents key findings of the Financial System Stability Assessment for the Russian Federation. There are significant vulnerabilities and weaknesses in the financial sector, although given its small size, the macroeconomy would be relatively little affected by the immediate impact of any financial sector distress. Several interlinked issues cut across the banking, capital markets, and insurance sectors and contribute to the identified vulnerabilities. According to official data, banks are in general well capitalized, but the quality of capital is questionable, and loan loss provisioning may not fully reflect risks.
Download or read book Russian Federation Financial Sector Assessment Program written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The establishment of the Central Bank of the Russian Federation (CBR) as a unified or 'Mega Regulator' in 2013 is an emblem of the far reaching changes to the legal and supervisory landscape in recent years. The level of compliance with the Basel Core Principles (BCP) reflects the transitional nature of the supervisory practices in Russia at the time of the assessment. The CBR is in the course of developing and enhancing its Risk Based Approach to supervision. The regulatory approach in the Russian Federation is highly rules based and this presents some specific challenges to an effective risk based supervisory regime. Supervision and Anti-Money Laundering and/Countering Terrorist Financing (AML/CFT) regulations have been improved. Effective communication and flow of information has been improving but some limitations still apply.
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-11-29 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note focuses on the stress testing exercise in 2010 for the financial sector assessment program based on the existing approaches of the Central Bank of Russia, as well as a separate bottom-up exercise. The tests covered broad ranges of risk factors. The single factor tests examined instantaneous impact of credit, concentration, market, liquidity, and interbank contagion risks. The results of the stress tests suggested that the Russian banking system is, on the whole, resilient to a variety of macroeconomic and financial shocks.
Download or read book Russian Federation written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-07-13 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an assessment of the level of implementation of Basel Core Principles for Effective Banking Supervision in Russian Federation. The legal framework currently in place provides the Central Bank of the Russian Federation (CBR) with necessary powers and responsibilities. The Russian licensing regime for banks appears exhaustive. The legal and regulatory framework provides CBR with a set of instruments and tools to ensure that the licensing process is sound. CBR also has the power to review, reject, and impose prudential conditions on any proposals to transfer significant ownership or controlling interests held directly or indirectly in existing banks to other parties. However, the legal regime for major acquisitions in Russia is found to be weak.
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-11-29 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on targeted detailed assessment of observance of the Basel Core Principles for effective banking supervision. The selection of the principles to be reassessed was made by the mission team based on an analysis of the risks and vulnerabilities of the Russian Federation. It was revealed that the Central Bank of Russia (CBR) Law does not establish requirements for banks to seek prior CBR approval when making domestic investments in nonbank financial institutions.
Download or read book Russian Federation written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-09-22 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the level of implementation of the International Organization of Securities Commissions objectives and principles of securities regulation in the Russian Federation. The findings reveal that there is much that the Central Bank of Russia needs to accomplish if it is to approach good international practice as a securities regulator. Some of the most recent regulatory changes, such as those on credit rating agencies, are clearly based on international standards. In other areas, further initiatives will be required. These include identification of conflict of interest and improving management standards of professional market participants.
Download or read book Russian Federation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-03-08 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report covers national accounts, prices (consumer and producer prices), government finance, monetary, financial and international accounts (balance-of-payments and international investment position) statistics. Assessment of macroeconomic datasets was conducted using data quality assessment framework (DQAF). With the assistance of the Central Bank of Russian Federation (CBR), users’ survey was conducted. Users are satisfied with the methodological soundness, coverage, timeliness, and accessibility of official statistics, especially monetary and financial and balance of payments statistics. Based on the review, the mission has developed a set of recommendations.
