The speaker: you need to work to increase the role of the Central Bank in the supervision of VEB

The speaker: you need to work to increase the role of the Central Bank in the supervision of VEB


The role of the Bank of Russia must be increased to balance the VEB could be audited directly, Minister of economic development Alexei Ulyukayev.

MANILA, 16 Nov. The Minister of economic development Alexei Ulyukayev considers it necessary to consider the question of increasing the role of the Bank of Russia to supervise the activities of the Bank.

The speaker explained that despite the fact that VEB is not a commercial Bank, the Corporation is audited, as well as VEB has an agreement with the Central Bank, pursuant to which VEB is allowed to participate in the financial services sector.

“In accordance with this agreement, it needs to be guided by prudential principles, and conventional banks. Of course, we’re talking about what can be the role of the Bank of Russia should increase is to a large extent, directly he could audit the balance of VEB, to give him some quality right credit decisions,” Ulyukayev said to reporters.

The newspaper “Kommersant” last week wrote that the government continues to look for ways of financial improvement plans of Vnesheconombank and the recapitalization of the Corporation at 1.5 trillion rubles by transferring her package OFZ.

Assistant to the President of the Russian Federation Andrey Belousov earlier on Monday stated that at the moment there is a definite decision on recapitalization of Vnesheconombank, now there is study of detail and the final decision can be made in a week at the level of first Deputy Prime Minister Igor Shuvalov. Moreover, he noted that the issue of recapitalization of the Corporation can be resolved without use of OFZ.