Specifics of international banking standards implementation by the Bank of Russia

Abstract

The Bank of Russia is an active participant of working bodies of the Basel Committee on Banking Supervision and the Financial Stability Board. The global financial crisis impelled the G20 countries to develop a new set of standards to promote banking stability. The agreed measures include identification of global and domestic systemically important financial institutions, enhanced capital requirements and other measures. The Bank of Russia consistently implements international recommendations to improve reliability, stability and transparency of the national banking sector. The article describes current and prospective measures.