The Bank of Russia is discussing an initiative to make free transfers between its accounts in different banks within 1.4 million rubles. This was stated by the head of the regulator Elvira Nabiullina, answering a question from Izvestia during a press conference following the meeting of the Central Bank on December 17.
«[В ЦБ] are considering an initiative so that within the framework of, say, 1.4 million [рублей], the insured amount, transfers from your own account to your own account in another bank were without commission, ”she said.
According to Nabiullina, the Central Bank believes that this will “improve competition among banks”, as well as “strengthen the transmission of monetary policy” of the regulator.
Earlier on the same day, the Central Bank, following a meeting of the board of directors, for the seventh time in a row raised its key rate to 8.5% per annum, tightening the step to 1 pp.
In early December, Izvestia, citing a document from the National Council of the Financial Market, wrote that the threshold for banking operations subject to mandatory control is proposed to be increased from 600 thousand to 1 million rubles by the end of 2023, and then to 1.5 million rubles. Credit organizations also proposed to return the threshold for reporting cross-border transfers and transactions in favor of NPOs, which has now been canceled.
The State Duma promised to consider this initiative. Rosfinmonitoring considered it inappropriate. Experts noted that the promoted changes will reduce the load on banks and reduce the number of erroneous blocking.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
