“Prime”: First Deputy Nabiullina leaves his post – Rosbalt

First Deputy Chairman of the Bank of Russia Sergey Shvetsov will leave his post on March 21, Prime reports.

According to the publication, the Supervisory Board of the Moscow Exchange in early March decided to include Shvetsov in the list of candidates to be elected at the annual meeting of shareholders in 2022. Earlier it became known that the Supervisory Board of the Moscow Exchange may head Shvetsov. In addition, the publication reports, the government of the Russian Federation in February nominated Shvetsov to the supervisory board of Sberbank – he can replace the advisor to the chairman of the regulator, Sergei Ignatiev, on the supervisory board.

Shvetsov has worked at the Central Bank since 1993 (with the exception of 1996–2001). He led, among other things, the development of the financial market of the Russian Federation, access to work in the market of financial organizations, admission and rules of circulation in the market of financial instruments, the formation and implementation of the policy of the Central Bank of the Russian Federation in the field of improving financial literacy and financial inclusion, counteracting unfair practices of behavior in the financial market. Shvetsov also supervised the work of the Russian National Reinsurance Company, the Moscow Exchange and its subsidiaries.

Earlier, the extension of the powers of the head of the Central Bank of the Russian Federation, Elvira Nabiullina, was in question. Press Secretary of the President of the Russian Federation Dmitry Peskov said that the Kremlin was not going to announce personnel issues. After the head of state Vladimir Putin submitted to the State Duma deputies the candidacy of Elvira Nabiullina for the post of chairman of the Bank of Russia. Nabiullina has been the chairman of the Central Bank since 2013. In 2017, her powers were extended.

Let’s add, Nabiullina stated that the Russian banking system in the conditions of Western sanctions works without failures, and the situation with liquidity has stabilized. At the same time, the head of the Ministry of Finance of the Russian Federation, Anton Siluanov, said that half of the gold and foreign exchange reserves of the Bank of Russia were frozen due to sanctions. The minister clarified that “the total amount of reserves is about $640 billion, about 300 billion reserves are now in a state in which we cannot use them.”