Central Bank rate 6.5% - page 17

[prostotrader]

Here we are...

[Алексей Тарабанов]

prostotrader:

Here we are...

Where would the money go?

[Maxim Kuznetsov]

Алексей Тарабанов:

Where would the money go ?

suggest a solution ?

[diman1982]

prostotrader:

Here we are...

Yeah. And there's not much of an alternative.

[Sergey Chalyshev]

Robbery in broad daylight, all by the book ))

[Vitalii Ananev]

Soon there will be no use complaining to the Central Bank about banks.

https://www.vedomosti.ru/finance/articles/2020/09/14/839904-bank-perestanet

[Aleksey Vyazmikin]

Vitalii Ananev:

Soon there will be no use complaining to the Central Bank about banks.

https://www.vedomosti.ru/finance/articles/2020/09/14/839904-bank-perestanet

So they explained that as it is, they don't look at the merits of the appeal, but give the answer to the person you're complaining about. There is just less padding now. But, in theory, the Central Bank could accept or reject the bank's response and send it back for revision, now it will just be a completely dumb reply.

[Vitalii Ananev]

Aleksey Vyazmikin:

So they explained that they don't look at the merits of the appeal as it is, but give the answer to the person you're complaining about. There is just less padding now. But, in theory, the Central Bank could accept or reject the bank's response by sending it back for revision, now it will just be a completely dumb reply.

Exactly:

Now, if the regulator receives a complaint about a bank at the Central Bank, it will not check it, as it used to do, but will send the complaint directly to the bank. The regulator will then look into the complaint itself...

The Central Bank will not check the results of the complaint and the complainant will receive a waiver.

[Aleksey Vyazmikin]

Vitalii Ananev:

Exactly:

The Central Bank will not verify the results of the complaint and the complainant will receive a formal reply.

All from the fact that:

"

The key element of the legal status of the Bank of Russia is the principle of independence, which manifests itself, first of all, in the fact that the Bank of Russia acts as a special public and legal institution that has the exclusive right to issue currency and organise its circulation. The Bank of Russiais not a government body, at the same time, its powers are inherently government functions, as their enforcement entails the application of the coercive measures of the state. The Bank of Russia exercises the functions and powers stipulated by the Constitution of the Russian Federation and the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" independently of the federal authorities, authorities of the subjects of the Russian Federation and local authorities. The independence of the Bank of Russia's status is reflected in Article 75 of the Constitution of the Russian Federation, as well as in Articles 1 and 2 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia).

"

otherwise it would violateFederal Law No 59-FZ of 02.05.2006 "On the Procedure for Reviewing Petitions from Citizens of the Russian Federation".

Although now the Central Bank of the Russian Federation refers specifically tothe 59-FZ when considering appeals.

[Yuriy Zaytsev]

I wonder if the Central Bank will continue to move towards civilised interest rates.

Bank of England rate 0.10% - ours 6.5%