Current Trends of Harmonization of Banking Regulation in Countries of Eurasian Economic Union (EEU)

Dr. P.S. Roginko, The Russian Academy of National Economy and Public Administration (RANEPA), Moscow, Russia

Assoc. Prof. Dr. I.D. Ukrainskaya, RANEPA, Moscow, Russia, Irasha2002@mail.ru

A.A. Rassadin, The Financial University under the Government of the Russian Federation, Moscow, Russia, aarassadin@gmail.com

key words

Eurasian Economic Union, credit institutions, prudential standards

References

We have examined the economic standards and regulatory requirements that are set for credit organizations by national regulators in the member countries of the Eurasian Economic Union. We have shown that with these standards and mandatory requirements certain economic standards of banking activities are formulated, credit organizations are straitened excessively risky activities. The scale and level of development, property models, and the possibility of attracting investors in each country determine the specific values for these regulations. All that we have shown using the basic quantitative indicators of banking sector development. We concluded that there is the information exchange between the national regulators on regulatory and supervisory measures, assessment of their compliance with international standards and approaches. We are confident that such co-operation is necessary. It should bring concrete benefits, including the harmonization of economic standards, of capital adequacy standards, management and evaluation of banking risks.

1. Treaty on Eurasian Economic Union. Information on regulatory regimes in the field of banking regulation and supervision in states- participants of CIS, Moscow, 2013; http://www.e-cis.info/page.php?id=23536.

2. Simonovskiy A.Yu. Bazel’skie printsipy effektivnogo bankovskogo nadzora [The Basel Principles for Effective Banking Supervision],

Den’gi i kredit, 2007, no. 1.

3. The official website of the National Bank of Belarus; http://www.nbrb.by/.

4. The official website of the National Bank of the Republic Kazakhstan; http://www.nationalbank.kz/.

5. The official website of the National Bank of the Kyrgyz Republic; http://www.nbkr.kg/.

6. The official website of the Central Bank of Armenia; https://www.cba.am/.

7. The official website of the Central Bank of Russian Federation; http://www.cbr.ru/.