Deprivation of a supervising orderOn the threshold of expansion of supervising powers of Bank of Russia, after a train of loud bankruptcies and the largest sanitation in bank sector, old opponents of a regulator try to limit expansion of its powers. The bill directed for interdepartmental discussion by deputy Vladislav Reznikom, assumes transfer of some Central Bank functions to the self-adjustable organisations (SRO), and also an establishment them of control over separate decisions of a regulator.
on hand “ “ there was a bill “ About self-regulation in bank sphere “ and also corresponding amendments to laws “ About the central bank “ and “ About banks and bank activity “. They have been directed by the head of committee of the State Duma of the financial markets Vladislav Reznikom for interdepartmental discussion to Ministry of economic development and trade, the Ministry of Finance and Bank of Russia. As appears from documents, mister Reznik suggests to add state regulation of the bank market from the Central bank also with self-regulation. Thus self-adjustable organisations are offered to give a number of powers on supervision of the banks, now assigned to Bank of Russia, and also to supply with their tools of control over actions of the Central Bank.
the bill provides that SRO together with the Central bank will supervise observance by the credit organisations of the bank legislation and podzakonnyh statutory acts. For infringements to banks it is offered to apply measures of influence from party SRO in the form of instructions, penalties, participation stay in SRO and exceptions of it. Representatives SRO, on a plan of mister Reznika, will participate in quality of observers in checks of banks from the Central Bank and other state bodies and to receive the information by results of such checks (now these documents are accessible only to office using). The bill also obliges the Central Bank to listen to opinion SRO concerning a situation in banks, and even before removal of decisions under certificates of checks. If the regulator finds out the bases for licence withdrawal from bank on the beginning of procedure of a response at it licences should inform SRO into which this bank is included. Thus opinion SRO, according to the bill, should be considered at removal by committee of bank supervision of the Central Bank of the final decision about that, withdraw the licence at bank or not.
However, judging by criteria of the organisations which on a plan of the author of the project can apply for status SRO, operating bank associations hardly will receive corresponding powers. In unanimous opinion of participants of the market, a condition on necessity to have as the members not less than 300 banks with the cumulative size of the capital not less than 35 % from the capital of all bank system assumes creation separate SRO which, most likely, will be a monopolist. However, even if any of operating bank associations can correspond to these criteria it is short: membership in SRO (interfaced to payment of single and regular payments) is offered to be made obligatory, and to pay twice - not in interests of banks.
it is no wonder that in such situation representatives of two largest bank associations - Associations of the Russian banks (ARB) and Associations of regional banks of Russia (ASROS) - are reserved enough in an estimation of offers of mister Reznika. “ the Bill demands studying, discussion and, is not excluded that essential updating “ - head ASROS Anatoly Aksakov has declared. “ Before discussion I would not like to give estimations to this project, - head of ARB Garegin Tosunjan has informed. - the Idea of self-regulation in the bank market is not new, essentially we support it, but such ideas should not go down from above, and proceed from participants of the market “. Interrogated “ “ participants of the market with it agree. “ the Initiative seems to me doubtful and strange, - chairman of the board Junikreditbanka Michael Alekseev has declared. - in world bank practice of a combination state and self-regulation I will not remember “. Chairman of the board SDM - Maxim Solntsev`s bank also accepts supervision existing behind banks from the Central Bank. “ if we struggle for efficiency of supervision still the question, whether will raise it from introduction of the second supervisor in the name of SRO “ - mister Solntsev marks. Besides the Russian bank market to which only 20 years, to self-regulation it is not ready: It is better to do more transparent and consecutive supervision from the Central Bank, he considers.
in the Central Bank and the Ministry of Finance did not begin to make comments on Vladislav Reznika`s offer officially. Under data “ “ the Central Bank conclusion, most likely, will be negative. It it is no wonder: from the Central Bank about quality of bank supervision and surplus of powers at a regulator mister Reznik conducts dispute for a long time. Parliamentary hearings about bank supervision which have been provoked by publications of scandalous letters of Alexey Frenkel after murder in 2006 of the first vice-president of Bank of Russia Andrey Kozlova became one of the brightest displays of this discussion. Then mister Reznik even stated idea about a conclusion of supervision from the Central Bank, suggesting to leave behind it only monetary - the credit policy.
It is remarkable that the bill has been brought for discussion after loud bankruptcies of variety of the banks which have crowned with record payments from fund of insurance of contributions and the decision on sanitation of Bank of Moscow which will manage to the state in 295 mlrd rbl. And thereupon mister Reznika has supporters. “ Ministry of economic development and trade is the apologist of self-regulation, therefore we essentially support idea of introduction of such institutes, - the director of department of innovative development and corporate governance of Ministry of economic development and trade Ivan Oskolkov has informed. - in bank sector introduction of the additional tools, allowing to discipline the market, it is expedient doubly - in view of a number of not so good displays observed in this segment recently, including from - for failures in Central Bank supervision “. Mister Oskolkov has not excluded that the project can be essentially processed: “ The self-regulating organisations could transfer from the Central Bank more than supervising functions, than it is written down in the document now. Or the Central Bank - to prove that it is capable to exclude failures “.
However, now to speak about prospects of passage of this bill prematurely, interlocutors " are unanimous; “. It is not excluded that the document will be used for strengthening of a trunk-call position of the deputy at discussion of a question on expansion of powers of the Central Bank in the State Duma, planned on the near future. To Contact Vladislav Reznikom it was not possible - it is in holiday.