Eurosystem and Bank of Russia launch cooperation programme in banking supervision and internal audit

20 March 2008

The Eurosystem and the Central Bank of the Russian Federation launched a three-year cooperation programme in the areas of banking supervision and internal audit. The banking supervision component of the programme will aim at enhancing the institutional capacity of the Bank of Russia to maintain the stability of the Russian banking system. It will focus on the transition of the Russian banking system to the Basel II principles, drawing on the experience of the Basel II implementation in the European Union. The internal audit component of the programme will aim to support the Bank of Russia’s risk-based internal audit function, through training by and consultations with the experts of the Eurosystem.

 

The implementation of the programme will start on 1 April 2008.

 

Press release

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