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Medvedev Hints at CB-Based Megaregulator

29.11.2012 09:05 / vesti.ru

Russian Prime Minister Dmitry Medvedev told Kommersant daily that the Central Bank-based financial market megaregulator scenario is ‘reasonable’.

"There are a number of institutions that affect the financial market, and the Central Bank is the strongest of these”, explained Prime Minister. “The idea of concentrating these powers at the Central Bank is quite reasonable".

The prime minister noted that despite his reluctance to heap praise on the Central Bank, the bank’s system is the most transparent and open compared to other state bodies in terms of corruption, reports ITAR-TASS.

However, Medvedev intimated that the final decision on the megaregulator will follow as soon as all scenarios have been studied, "from the reinforcement of the existing financial markets regulator to delegating all powers to the Central Bank".

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