Russia’s Central Bank has prepared a concept of the Fund for banking sector consolidation, the chairperson of Russia’s Central Bank Elvira Nabiullina said.
"We have prepared a concept of creating such a fund. It will be discussed by the government. In accordance with international experience, we proposed that when public funds are allocated for the financial recovery, the liabilities of the given bank to former owners are to be fully written off," TASS cited her as saying.
"I think it would be reasonable that if there is such a special regime of operation and special restrictions on work with some deposits, in this case the banks should give their consent for disclosure of information to such creditors about supervisory activities. I think this can also be discussed," she said.
The head of Russia’s Central Bank also said in the future the disclosure of the information may become one of the criteria to select banks for working with state funds.
