Banking And Finance. Major Russian Legislation Changes For 2015

Throughout 2015, both external and internal factors had a considerable negative impact on the Russian economy. It is precisely in this context that amendments intended to modernize legislation to develop regulation of the domestic debt and capital markets should be considered. Also, the Bank of Russia actively influenced monetary policy using the methods available to it for increasing market liquidity and reviewed approaches to regulation of currency lending. Restrictive measures were also actively discussed in connection with unprecedented capital flight. However, to date no radical decisions have been made. Below is a brief overview of key new developments that stand out against the backdrop of other changes to banking and finance regulation in 2015.