Russian cb retains hold on banking regulation

The Central Bank of the Russia will hold on to its position as sole regulator of the banking sector, in the teeth of a determined effort by the State Duma to remove its power to revoke banking licences.

Anatoly Aksakov, deputy head of the Duma committee on credit organisations and financial markets and president of the Association of Regional banks, said that stripping the central bank of all regulatory powers was "no longer being seriously considered".

Delegates from both these organisations

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