How do regulatory changes affect - or should affect - the risk management strategies in Russian banks? Why does Russia need to create a meta- or mega-regulator? Why people in Russia do not transform savings into development capital and, consequently, there is a deficit of long-term money? Viktor PLESKACHEVSKY, head of the Property Committee of the State Duma answered these and other topical questions in an interview to the NBJ.

2010 saw many license cancellations. Despite a widely spread opinion that small banks are going to leave the market due to new capital requirements imposed by the Central Bank, the main reason for resorting to the ultimate punishment - license cancellation - was false reports and inability to satisfy creditors. Mikhail SUKHOV, director of the department for licensing and financial rehabilitation …

In the past 20 years, the ARB has learned to protect not only the interests of the banking community, but the interests of citizens as well. Lack of adequate protection mechanisms for creditors and customers leads to increased risks and undermines the trust in the banking system. In many cases, conflicts with customers of credit institutions arise because the Russian banking system is still young, and many legal issues remain unregulated.