it is important for such associations to consider a single overseas data capital adequacy standard. As a result, we will look not at one company, but at the entire group, taking into account the assets and risks that exist: capital adequacy, unified approaches at the level of principles to risk management systems and internal control. We believe this is fundamentally important if we want to monitor the risks that arise within the group. This is a slightly more simplified approach than is currently in effect for credit institutions, because banks assume a larger number of standards for calculations on a consolidated basis.
In connection with the introduction
Such regulation of financial associations, will it be necessary the ability to select keywords that to create a separate division in the Bank of Russia?
We did not plan to do this
Cross-functional work between different areas or between departments responsible for regulation and supervision of certain financial market participants — both credit institutions and NFOs — has proven itself very well for us. We see that this form of interaction today has many more advantages and benefits than creating a single department that would have to gather high-quality specialists in different topics.
— In addition to additional responsibilities from the america email proposed regulation, will financial market participants receive additional opportunities?