Lukashenko approved draft agreement with Russia on co-operation in financial market supervision

On April 22nd, Head of State Aleksandr Lukashenko signed Decree No. 172, which approved a draft agreement on co-operation and exchange of information, including confidential one, in the field of supervision and (or) control of the financial market between the Government of Belarus, the National Bank of Belarus, the Government of Russia and the Central Bank of Russia as a basis for negotiations, sb.by reports with reference to the Belarusian leader’s press service

In order to strengthen the reliability and ensure the stability of financial markets, the draft agreement establishes ways for the exchange of information obtained within the framework of supervision and control in financial markets between the supervisory authorities (the National Bank of Belarus, the Finance Ministry of Belarus and the Central Bank of Russia). A procedure for supervisory authorities to conduct joint inspections of financial market participants with cross-border institutions, and the possibility of creating joint supervisory boards are also envisaged.

The Government and the National Bank are authorised to negotiate and sign the draft agreement.