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Russia’s Central Bank independent in decisions concerning banks recovery — Kremlin

September 21, 13:24 UTC+3 MOSCOW
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MOSCOW, September 21. /TASS/. The Bank of Russia is independent in its decisions related to the issues of banks’ recovery and does not obtain approval form the Kremlin.

"It (the Central Bank - TASS) is an independent body, and the regulation of the banking sector is fully within the Central Bank’s cognizance and requires no approval," he said when asked whether the regulator obtains approval from the Kremlin for its decisions and whether it has received an instruction to ‘save’ big banks prior to the presidential election.

"The Central Bank keeps the situation regarding stability of the banking sector under control, which does not require approval from the Kremlin," he added.

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