ecosystems, but about regulating non-core bank assets?
It’s just that with the advent of ecosystems, this issue has become there are separate frameworks for the front end more acute. It’s no longer just a problem of non-core or distressed assets that hasn’t been resolved from crisis to crisis. Now it’s becoming a business model for banks. And, of course, the fact that it’s a strategy raises questions.
Unlike many, we are not against banks developing
ecosystems. But the interests of depositors and creditors must be respected. That is why we tell banks: cover your risks. For many countries, it is not even clear how a bank can be the core of an ecosystem. We believe that this is possible. We have innovative banks that can really develop ecosystem services. And Russia is one of the few countries that can, in principle, develop its own ecosystems. That is why we are not against banks developing them.
But, of course, there are many private questions about how to build this regulation, including in what part of the banks’ fixed assets to consider immobilized assets, why this or that coefficient is introduced. We organizes the sales team’s demands have collected many comments and suggestions. We will definitely give a feedback.
— In an ideal world, would you like banks to sell off all the non-core assets they have accumulated since 2008?
Really a mixture of banking and investment activities.
“We tell banks: this client is in the green zone”
— The Bank of Russia has been developing and advancing the Know america email Your Customer platform since 2019. What is its current status? Has testing begun? Are many banks participating in this?