Cbr-Development of Russian financial market over next three years: start of public discussion.

ENPNewswire-July 29, 2021--Cbr-Development of Russian financial market over next three years: start of public discussion

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Release date- 28072021 - The creation of favourable working conditions, the promotion of digitalisation, the launch of financial instruments for sustainable development and long-term financing of the economy, and the training and protection of novice retail investors are strategic areas for the development of the financial market.

In its draft Guidelines for the Development of the Russian Financial Market in 2022-2024, the Bank of Russia outlined eight priority areas.

The regulator considers it its most important function to create conditions for the development of the financial market, which is primarily achieved by ensuring price and financial stability in any economic conditions, as well as a high-quality competitive environment. This will enhance the market depth, efficiency, technicality and customer focus of market participants. The regulator's priorities include improving financial inclusion, consumer protection and the development of the long-term money segment. In each area, there have been established key tasks and measures that the Bank of Russia and the Government of the Russian Federation will take with the participation of the legislative authorities.

Given the large number of individuals entering the capital market, the Bank of Russia will focus on raising households' investment and financial literacy, as well as on disclosing information about financial products. The development of behavioural regulation and corporate governance in financial institutions will help reduce the number of violations of individuals' rights.

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