CBR hopes to prevent central bank law amendments
It is not a case of the Central Bank not needing amendments, but the fact is that they are unnecessary and absurd, Central Bank Chairman Viktor Geraschenko said at a meeting with regional lawmakers on lawmaking in 2001 and the outlook for 2002 on Monday.
Geraschenko particularly criticized the idea of forming a national banking council. "Making a dual power in the Central Bank and allocating decision making functions with the national banking council without any responsibility is out of all proportion," he said.
From the spring of 1998 the State Duma has been involved with amendments that do not bring about any considerable improvement in the Central Bank's work, Geraschenko said.
The Central Bank will do everything it can to prevent the adoption of these amendments, he said, adding that he would "definitely be present" in any discussions on amendments to the Central Bank law in the State Duma.
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