The State Duma approved the updated composition of the Board of Directors of the Central Bank

The State Duma approved the updated composition of the Board of Directors of the Central Bank

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During the plenary meeting, the State Duma approved the updated composition of the Board of Directors of the Bank of Russia. Speaker of the State Duma Vyacheslav Volodin called for the introduction of “personal responsibility” for top managers of the Central Bank.

As reported press service The State Duma, following a meeting with the management of the Central Bank, deputies approved the entry into the board of directors of the regulator of three new members – the director of the financial stability department of the Central Bank Elizaveta Danilova, the head of the Central Bank department for the Central Federal District, ex-prime minister of Bashkiria Rustem Mardanov and the head of the Volga-Vyatka main department of the Bank Russia Larisa Pavlova. In addition, the powers of four existing members of the board of directors of the Central Bank were extended: first deputy chairman of the regulator Vladimir Chistyukhin, deputy head of the Central Bank Alexey Guznov, adviser to the chairman of the Bank of Russia Alexey Simanovsky, as well as head of the service for protecting consumer rights and ensuring accessible financial services of the Central Bank Mikhail Mamuta.

Advisor to the head of the Central Bank Elvira Nabiullina, Ksenia Yudaeva, has not been a member of the board of directors since October 10; the chairman of the regulator did not ask deputies to extend her powers.

“The Central Bank should have higher personal responsibility for deputy chairmen and members of the board of directors. This is necessary so that a person who is on the board of directors of the Central Bank understands that if he is effective, they will thank him, if he is ineffective, he will be fired, and then will not find a job in any private bank. Then efficiency will increase,” State Duma Chairman Vyacheslav Volodin said during the meeting.

The Board of Directors of the Bank of Russia collectively makes key decisions within the competence of the regulator. In particular, it is this body that holds meetings on changing the key rate. Members of the board of directors are elected for a period of five years.

Alexander Kislov

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