Rus News Journal

FSFR will turn to committee of Bank of Russia

the Government and Bank of Russia left on a home straight in disputes round creation of a megaregulator of the financial market. In the end of the past week at meeting in the White house has been decided to recommend to prime minister Dmitry Medvedev to 2016. To liquidate Federal Agency of the financial markets (FSFR), having created instead of it in structure of the Central Bank committee on financial stability in not bank sector.
under the certificate of the participant of meeting, after fierce disputes this variant with some reservations suited all interested parties the newspaper " writes today, on November, 26th; Daily .
However, the government position can encounter resistance in the Kremlin. So, on November, 23rd in the White house have passed total consultations between the Central Bank, FSFR, the Ministry of Finance, secretary of the first vitse - prime minister Igor Shuvalov, the International financial centre (MFTS) and experts of the open government (OP). As the organizer the minister concerning the open government Michael Abyzov has acted. To a meeting three variants were considered: to strengthen FSFR, to make of department new agency at the Central Bank and to liquidate FSFR, having given functions of a megaregulator to the Central Bank.
according to M.Abyzova, consultations have appeared very difficult as at the position initial stage were opposite. but all interested parties and participants of discussion have shown the professional and objective approach - the minister has noted. Head FSFR Dmitry Pankin suggested to transform service to the separate isolated organisation at the Central Bank, having made the head of the organisation the first vice-president of the Central Bank.
the head of working group of creation MFTS Alexander Voloshin adhered to a similar position also. The Central Bank suggested to transfer functions of a regulator to it. Minister of Finance Anton Siluanov defended idea to start a megaregulator on the basis of FSFR and the Central Bank. The head of Ministry of economic development and trade Andrey Belousov, in turn, warned that at creation of a megaregulator on the basis of Bank of Russia there can be a conflict of interests in the Central Bank, and prime minister Dmitry Medvedev in general suggested to strengthen FSFR.
As a result, the newspaper writes, has been decided to recommend to liquidate a premiere FSFR, having created within the limits of the Central Bank separate committee. According to one of participants of Friday meeting, the working name of the future structure the such: committee on financial stability in not bank sector. after fierce disputes this variant with some reservations suited all interested parties, and it is possible to consider it as a position of the White house - one of the officials participating in meeting has explained.
other participant of meeting has warned that among the stated reservations it is a lot of nuances, and the border between all variants is washed away. here ticks, and the maintenance are important not: It is important, that regulator functions were not lost on priorities under other functions of the Central Bank - he has noted. As he said, the variant of creation of the isolated joint body at the Central Bank or in Bank of Russia which would be the carrier of functions of a regulator, is priority. it is possible to lift committee on financial stability in not bank sector on level above other committees of the Central Bank or to make committee on a level with existing in the Central Bank (for example, with committee on banks), but thus it is necessary to expand functions of National bank board - he considers.
unconditional support thus during meeting was received by idea of strengthening of functions of the self-adjustable organisations (SRO). It is supposed that, besides other, representatives SRO will include in specially created committee on the financial markets at the Central Bank, which will receive function of examination of the market, and functions unusual for a megaregulator, which now are at FSFR (for example, autoinsurance), will depart to SRO. According to Michael Abyzova, during a week working group OP will develop a question of powers and responsibility SRO and committee created at the Central Bank.
this week on results of consultations it will be reported to the first vitse - to prime minister Igor Shuvalov then the report will be directed prime minister Dmitry Medvedev and president Vladimir Putin. In ultimate authority the decision co-ordinated in the government can have serious problems. According to one of newspaper sources, the assistant to the president on economic problems Elvira Nabiullina did not support the chosen variant, and insisted on creation of the isolated agency at the Central Bank.
Considering that last decisions of the government are late in Presidential Administration often enough, probably that megaregulator creation will be braked there.