Izvestia: the government approved the FAS law on strengthening control over bank transactions

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Izvestia: the government approved the FAS law on strengthening control over bank transactions
August 22nd. /MEDIA TALK/. On Thursday, August 22, it became known that the government commission approved the draft law of the Federal Antimonopoly Service on strengthening control over transactions of large Russian banks. They will be obliged to coordinate with the agency the acquisition of shares and assets of competitors of any size, Izvestia wrote, citing a source.

According to the publication, the requirement will affect banks with a certain asset value. The level will be set by the government in consultation with the Central Bank.


Photo: ru.freepik.com

The publication added that now credit institutions need to coordinate transactions with the Federal Antimonopoly Service only if the value of competitors' assets is higher than a certain amount: 29 billion rubles for financial institutions, eight for leasing, three billion for MFIs and 200 million for insurance companies. The service believes that it is necessary to protect smaller market players in order to avoid monopolizations. Experts noted that this trend became noticeable after a series of massive license revocations from small players.

Recall that in early June it was reported that next year RNKB will switch to the VTB brand. In February of this year, it also became known that the well-known Otkritie credit institution would be joined to the BM-Bank being rehabilitated by VTB.
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