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Russian regulator reforms banking supervision


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Russian regulator reforms banking supervision

TheCentral Bank of the RussianFederation centralized banking supervision by assuming powers fromregional branches, with its governor and chairwoman, Elvira Nabiullina, to overseemonetary policy from Oct. 17 onwards.

Atthe same time, the regulator's first deputy head, Dmitry Tulin, will overseebanking regulation and supervision.

Thecentral bank will also set up a separate risk analysis division for both creditand nonbanking institutions, as well as a department for the liquidation andrehabilitation of financial institutions.