Changes in Russian Banking Laws: Acquisition of Bank's Shares; Banking Groups and Banking Holdings; Risk Management
On 2 July 2013 the President signed Federal Law No. 146-FZ amending the Law on Banks and Banking Activity, the Law on the Bank of Russia and a number of other Russian laws.
Following the Strategy for the Development of the Russian Banking Sector through 2015, the amendments aim to:
(1) improve the legal framework for admitting capital into the Russian banking sector;
(2) tighten the requirements for bank managers;
(3) improve the legal framework for supervising banks on a consolidated basis; and
(4) limit the degree of risks incurred by banks, including the degree of risk concentration.