CBR's 5 priorities in modernising banking system

RUSSIA - The Central Bank of Russia has determined five priorities that it will follow in modernizing the banking system, Andrei Kozlov, the bank's first deputy chairman, said at a round-table meeting on banking reforms Monday.
RUSSIA - The Central Bank of Russia has determined five priorities that it will follow in modernizing the banking system, Andrei Kozlov, the bank's first deputy chairman, said at a round-table meeting on banking reforms Monday.

Interfax reported the priorities will include the creation of a deposit insurance system, conditions for the development of the banking business, strengthening banking supervision, and creating infrastructure to develop the financial and mortgage markets, he said.

The government plans to discuss a draft bill on insuring deposits in banks on Thursday. "This is the best of what has been developed over the past few years. This bill takes into account the interests of all parties. It is completely clear and transparent, and therefore efficient," Kozlov said.

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