The congress welcomes activity of the Government of Russian Federation and the Bank of Russia, consistently carrying out a complex purposeful measures, aiming on development of the banking sector on the basis of the Program of socio economic development of Russian Federation on intermediate term prospect, Strategy of development of the banking sector and Main directions of the uniform state monetary policy. Their realization will allow to increase the efficiency of activity of the banking sector, level and quality of banking services, their conformity to needs of economic and social development of country and its regions, enterprices and population. The participants of the Congress mark, that in the indicated documents reflection of the recommendation of the previous international banking congresses which were carried out in. St.-Petersburg were found.

Simultaneously participants of the Congress mark existence of a lot of problems interfering development of the banking sector. To their number concern adverse for diversification of the risk structure of economy not settled questions in sphere of the legislation (weak protection of the rights of the creditors, imperfection of the mortgage legislation and adverse conditions of the taxation of credit organizations), serious defects in law enforcement practice, low general level of transparency and market discipline in the real economy and financial sectors. There is an accumulation of credit risk, the deficiency of medium- and long-term resources is saved. The low quality of corporate management is still characteristic for many credit organizations.

Fruitful discussions and productive exchange by opinions on urgent questions of development of the banking sector of Russian Federation, first of all discussion of problems of its modernization, market discipline and transparency of the enterprises of real economy and credit organizations, questions of the accounting, the reportings, audit, perfection of banking supervision, once more have confirmed efficiency of the IBC as the adequate form of interaction in international banking community. The participants of the Congress express reliance, that the recommendations IBC-2002 will introduce the worthy contribution to the development of the banking and financial sectors of Russian Federation.

To consider a priority problem of development of the banking system on all territory of the country, maintenance of availability of a wide spectrum of banking services for all participants of economic circulation.

To support the “competitive” script of development of the banking system supposing a combination of the tendencies to integration of growth and consolidation of bank organizations, stimulation of occurrence of the numerous layer of strong average banks, and also gradual reorientation of the banking system on work not only with export-oriented branches, but also with branches of internal demand, with small and average business, with the population.

To support expansion of focus of state policy in relation to the banking branch from a problem of maintenance of its stability on more volumetric problem of creation of conditions for development of effective and diligent banking business.

To conduct actively measures raising yield and appeal of banking business.

To ensure transparency of the process of the outgoing of the state, first of all of federal state unitary enterprises and federal official bodies, from the capitals of credit organizations.

To take measures on preparation for introduction of system of state warranting of the deposits.

To improve the systems of corporate management and internal control, using the best international bank practice, including generalized in the recommendations of Basle committee on banking supervision.

To accept necessary measures for maintenance of transition on the international standards of book keeping and financial reporting, since January 1, 2004. To conduct necessary retraining of bank staff with allowance for requests of the international standards of book keeping and financial reporting.

To ensure effective interaction of credit organizations and services of the internal control with the external auditors.

To increase transparency of activity of credit organizations with allowance for of international banking practice. To provide unconditional reliability of the disclosed information. To take measures on maintenance of effective access of all categories of the interested users (shareholders, participants, customers and contractors) to the information about activity of credit organization disclosed within the framework of the current legislation. To use Internet with the purposes of duly and point disclosing of the information about the activity, first of all, by creation and support of own information sites more widely.

To take measures on constructive interaction with the Bank of Russia as by a body of banking regulation and supervision.

With the purposes of counteraction to penetration into the banking sector of the criminal capitals to ensure fulfilment of requests of the Federal law “ About counteraction of legalization (laundering) of the incomes received in a criminal way ”, were guided in the actions on the best international practice.

In interests of the effective decision of problems of counteraction to laundering of the criminal incomes to provide fulfilment of a principle “ know the customer ”, to conduct constant work on increase of a professional level of the employees of bank, culture of a banking, including following to the ethical norms of activity recognized in the international practice, including stipulated by the project of the Code of ethical principles of a banking approved by the XII congress of the Association of the Russian banks in April, 2002.

To consider the problem on development and introduction of the rules of self-regulation within the framework of public bank associations.

To the proprietors of credit organizations to take measures to increase of quality of the capital and level real capitalisation as the important factor of stable development of credit organizations.

To initiate discussion by banks and banking community of problems in sphere of bankruptcy and liquidation of credit organizations through expert coordination council.

To give due attention to questions of development and modernization of the banking sector, increase of efficiency of activity of credit organizations first of all to stable quality of realization by them of functions of financial intermediary and development of interaction with real economy, increase on this basis a level of protection of interests of the creditors and investors, strengthening of trust to the banking sector.

To develop and to accept after discussion with banking community reasonable criteria of the admission of banks to the system of state warranting of the deposits supposing quantitative parameters and valuations of prospects of activity of banks and the right of Bank of Russia on professional judgement concerning fulfilment of these criteria by banks.

To prepare conditions for methodical and organizational maintenance of transition of credit organizations on the international standards of book keeping and financial reporting since January 1, 2004. To acquaint banking community with results of the project of preparation and submission of the financial reporting under the international standards by group of “pilot” banks.

To consider problems of optimization, increase of quality and efficiency of banking supervision as one of priority problems on the nearest period, meaning its reorientation from formal to substantial aspects of activity of banks, from fixing of the last mistakes of banks to adequate valuation of a real status and prospects of the further activity.

To prepare the offers on modification in the Federal law “ About the Central bank of Russian Federation (the Bank of Russia) ”, having provided character of requests for banking supervision appropriate to the modern approaches to its organization and realization, switching on including opportunity of organization of banking supervision and making the supervision decisions on the basis of the motivated estimated judgement.

To carry out measures on the further perfection of system of banking supervision on the following main directions:

Increase of quality of the analysis of a financial status of banks and development of system of the early warning of possible problems in activity of credit organizations;

Development of a technique and practical realization of supervision of activity of credit organizations with use of institute of the curators;

Development of a technique and practice of inspection of banks, including with use of institute of the chief inspectors;

Development of a technique and practice of supervision on the consolidated basis;

Development of the approaches to valuation of quality of management of bank and status of the internal control;

Optimization of the regulation approaches to classification of assets and formation by banks of reserves on possible losses on accepted risks, guided on rules of IAS and best international practice;

Perfection of system of the bank reporting, meaning both greatest possible reduction of its volume, and increase the quality of information;

Development of the approaches to valuation of market prospects of activity of credit organizations.

To accept the necessary decisions on decrease of the “prescribed” costs of credit organizations, including to rationalize requests on creation of a bank infrastructure, including revision of the spefications on safety of cash sites and money storehouses, other requests of non-prudential character (reduction of terms and simplification of procedures of reception of the sanctions on management of separate banking operations etc).

To simplify procedures of merging and aquisition of banks, opening of branches and branches of credit organizations, creating conditions for development of processes of consolidation and concentration of the capital on market principles.

To take measures on development of constructive dialogue of territorial banking institutions of Russia with credit organizations.

To give primary attention to questions of realization of measures stipulated by the Federal law “ About counteraction legalization (laundering) of the incomes, received in a criminal way ”. To promote credit organizations in effective fulfilment of requests on counteraction to laundering of the criminal incomes, financing of terrorism and other infringements of basic ethical norms of banking.

To continue perfection of system of refunding, including achievement of the greater adaptability to manufacture and expansion of a spectrum of used tools.

To develop a set of market tools providing credit organizations more floppy control of liquidity. To expand practice of refunding of working banks at the expense of realization of lombard credit auctions and granting of collateral credits under the fixed interest rate, and also perfection of the mechanism of granting of the credits supplied with the lien of the bills and the rights of requests on the credit agreements and the guarantees.

To develop the simplified order of the accounting and settlement, calculation of provisions on the “small” credits (up to 300 thousand roubles) to individual businessmen and physical persons.

Together with the Government of Russian Federation to continue work on preparation of the project of new edition of the law about an currency control and currency exchange regulation adequate to the modern realities of banking business.

To participate actively in perfection of the financial market of Russia.

To conduct work on perfection of system of regulation of credit organizations in a part of hypothecary crediting, meaning adequate valuation of arising risk.

To study a question on opportunities of preservation of additional favorable conditions of attraction of the foreign investments to the capital of the Russian banks, first of all regional.

4. Bodies of the legislative and executive authority of Russian Federation:

To ensure qualitative increase of a level of protection of the rights of the creditors. In these purposes to make changes to the legislation on the lien, and also to ensure legal protection of the creditors in all bargains recognized in international practice, even if the appropriate protection is not stipulated by the acting Russian legislation.

To speed up entering in State Duma of Russian Federation and to ensure the accelerated passage in legislative bodies of the administration bill about warranting the deposits of the citizens in banks.

To conduct a complex of measures providing simultaneous transition of all managing subjects on the international standards of book keeping and the financial reporting since 1.01.2004.

To take measures on the further rationalization of system of the taxes and taxes concerning banks, meaning including inclusion in the cost price of banking services of all costs on formation of reserves on possible losses created according to requests of the Bank of Russia, cancellation of the tax on sale of foreign currency, differentiation of the tax on issue of the bonds depending on their promptness, essential reduction of the tax for notarial registration of the lien.

To ensure creation of legal base of bank regulation and supervision adequate to the modern approaches to organization and realization of banking supervision, submissions about tools of the effective solving of supervisory problems.

To develop the project of the law determining legal conditions for creation of credit offices, and also amendment in the current legislation granting an opportunity to banks to exchange by the information on the customers without infringement of bank secret.

To result the acting legislative base determining role and functions of the state control of financial flows, in conformity with requests of international financial organizations on strengthening struggle with legalization and laundering of the capital received in a criminal way.

With the purposes of perfection of procedures of bankruptcy and liquidation of banks to create the special mechanism of the accelerated consideration in courts of cases concerning the small sum of requests.

To improve judicial system, to create in federal districts the specialized courts examining cases under the taxes and bankruptcy, with the purposes of maintenance of their independence from local government bodies and for acceleration of processes of disposal of legal proceeding.

With the purpose of increase of quality of bank audit to develop the approaches to valuation the quality of services of the auditors including effective enforcement measures used to the unfair auditors.

To speed up acceptance of the new law “ About book keeping ” and normative acts allowing to ensure the banking system and the real sector of economy have legal base for transition to the international standards the financial reporting. To ensure duly formation of normative base on transfer on ISFR of national economy.

To take measures on development of system of preparation, improvement of professional skill of the experts of accounting services of all sectors of economy, and also auditors by means of organization of the various forms of training (seminars, courses, round tables).

To ensure realization of measures directed on essential increase of quality of audit in the banking sector. To promote introduction of the international standards of audit, having adapted them to the Russian conditions if necessary, to increase qualifying requirements for want of certifications of the bank auditors. To conduct in near future of a conference on consideration of problems of bank audit.

To speed up the legislative decision of a question on reference of the costs on transfer of system of book keeping and financial reporting on the international standards with the purposes of the taxation on the cost price of services of credit organizations.

To speed up acceptance of new edition of the law about bankruptcy of credit organizations supposing more operative and effective mechanism of liquidation of impractical credit organizations, and also introduction of institute of the state liquidation manager.

In frameworks of talking process on connection of Russia to WTO to proceed from a base principle of freedom of acceptance of the decisions in accordance with regulation of trans-boundaries rendering of services and commercial presence of the foreign capital at a banking system of Russian Federation.

To make amendments to the legislation providing for credit organizations the right to close of the bank accounts of the suspicious customers, and also to refuse in opening them of the bank accounts.

To grant the Bank of Russia additional authorities following from the international approach, to effect on the holders of credit organizations.

To make changes to the Code about administrative offences, including:

To specify, that the imposing of the administrative sanctions is carried out within the framework of the Code on the officials of credit organization only;

To include the norm granting the right of the body of banking supervision to consider cases about administrative offences within the framework of the banking legislation;

To expand the list of infringements, for which according to the approaches recognized in the international practice the measures of the administrative responsibility can be applied to the officials of credit organization.