MOSCOW, July 22. /TASS/. The State Duma will discuss a draft law on opening of branches of foreign banks in Russia during its fall session, head of the financial market committee of the lower house of the Russian parliament said at a press conference in TASS.

The ban on opening of branches of foreign banks is effective in Russia since 2013. Foreign credit institutions can work in Russia either through their subsidiary banks or representative offices at the moment.

"We are going to consider the issue regarding the possibility of branches opening by foreign banks in fall. Only subsidiaries of foreign banks are working with us now. Opening of branches is a simpler procedure," Anatoly Aksakov said.

"From our point of view, it will simplify interaction of Russian and foreign organizations," the lawmaker added.