Operative regulation of banking activities

The President, Vadim Krasnoselsky, sent a law-in-draft amending the procedure for the development and approval of the main lines of the single state monetary policy in the legislative necessity. Changes in the norms of the law "On the central bank of PMR" were presented by Vladislav Tidva, the chairman of the Pridnestrovian Republican Bank. The law-in-draft proposes to consolidate the authority to approve the main areas of the single state monetary policy for the banking council of the central bank. Earlier: the banking council is a collegial body of the central bank, which includes representatives of the President, the Supreme Council and the banking community. As the chairman of the PRB emphasized, the proposed measure will allow the central bank to react more effectively and quickly to the situation in the economy. Vladislav Tidva also emphasized that this mechanism operates in most countries of the world, including in the Russian Federation. By analogy with Russian legislation, the law-in-draft provides that after approval by the banking council of the main directions of the monetary policy the document is sent to the Supreme Council for consideration. The deputy corps, based on the results of the examination, only takes note of them, and does not approve the document, as it was before.

In addition, the law-in draft provides for an increase in the period for the development of a basic document that defines the main directions of the monetary and credit policy of the state. It is proposed to extend it from June 15 to September 1. As stated in the explanatory note to the legislation, "such a measure will allow the central bank to focus on the draft socio-economic development forecast project for the next year".

The law-in-draft is supported by the deputy corps in two readings.