IMF Staff Country Reports

Russian Federation: Targeted Detailed Assessment of Observance of Basel Core Principles for Effective Banking Supervision

Publication Date:

November 29, 2011

Electronic Access:

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Summary:

This paper focuses on targeted detailed assessment of observance of the Basel Core Principles for effective banking supervision. The selection of the principles to be reassessed was made by the mission team based on an analysis of the risks and vulnerabilities of the Russian Federation. It was revealed that the Central Bank of Russia (CBR) Law does not establish requirements for banks to seek prior CBR approval when making domestic investments in nonbank financial institutions.

Series:

Country Report No. 2011/336

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Banking Capital adequacy requirements Correspondent banking Credit Credit risk Crime Financial regulation and supervision Financial services Money