MOSCOW, September 1. /TASS/. Russia intends to reach an agreement with participants of the BRICS interbank cooperation mechanism on its expansion through regional banks, VEB.RF senior banker, member of the board of directors of BRICS New Development Bank from Russia Sergey Storchak told a roundtable.

"Next year Russia will chair BRICS, while VEB.RF will chair the mechanism of interbank cooperation, respectively. We are trying to reach an agreement with participants on expansion through regional banks. As BRICS expands new members’ own systemic development banks will come, of course, but we would like to widen the circle, at least three banks from each jurisdiction. And then we will probably start speaking about multisided cooperation at least," he said.

"I believe it is necessary to get down to the level of regional banks, to work with banks, for which Western markets, Western payment instruments and reserve currencies do not play as important role as for systemic financial institutions," Storchak stressed.