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Bank of Russia to unveil new regulation concept by year-end — Central Bank chief

"This is the first innovative point - the risk-oriented stimulating approach," Elvira Nabiullina said

MOSCOW, November 10. /TASS/. The Central Bank has plans to present a new regulation concept for the banking sector by the end of 2022, Governor of the Bank of Russia Elvira Nabiullina said on Thursday at the Finopolis forum.

"We are going to present this concept by the end of the year. The first main change in regulation is that we want to stimulate banks to lend more for structural transformation projects. This is our conceptual approach. It requires working out criteria for banks to make their choice. This is the first innovative point - the risk-oriented stimulating approach," Nabiullina said.

"The second one, considering the crisis and specific national features, we will also fine-tune requirements to standard provisions and to assessment of market, interest and currency risks, as regards the liquidity. Attention will be paid also to improvement of the quality of capital - it is critical for us that there is real capital preserved in the banking system, so that lending occurs," she added.