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President Putin praises Russian Central Bank’s work

ASTANA, October 4. /TASS /. Russian President Vladimir Putin always thinks highly of Central Bank’s activities, press secretary of President Dmitry Peskov said on Tuesday in a comment on recent management reshuffling in the Bank of Russia.

"The mega regulator is headed by Elvira Nabiullina; she bears all the responsibility for work of the Central Bank and makes required decisions within the framework of the Bank of Russia. You know the president has repeatedly made highly positive statements and gave high assessment to performance of the Central Bank as the mega regulator," Peskov said.

The Bank of Russia initiated management reshuffling and structural changes, the regulator said on Monday in its press release.

Chairperson of the Central Bank Elvira Nabiullina will directly oversee monetary policy issues since October 17. First Deputy Chairman of the Bank of Russia Dmitry Tulin will oversee banking regulation and supervision, coordinate and control the risk analysis function, and will chair the banking supervision committee. First Deputy Chairman Alexei Simanovsky will become the advisor to the Chairperson of the Bank of Russia.

The Bank of Russia will also create a separate risk analysis function and a department of liquidation and financial recovery of credit institutions. The Central Bank also plans centralization of supervision in the banking sphere, the regulator reported.