Originally from Russia and the Republics Legal Materials - Second Series
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1. The Banking Supervision Committee of the Bank of Russia (hereinafter – Committee) shall be the organ operating on a permanent basis through which the Bank of Russia shall effectuate regulatory and supervision functions established by legislation of the Russian Federation.
2. The committee shall be guided in its activity by the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)’, other federal laws, the present Statute, decisions of the Council of Directors of the Bank of Russia, and also other acts of the Bank of Russia.
3. The Chairman of the Committee, appointed by the Chairman of the Bank of Russia from among members of the Council of Directors of the Bank of Russia, shall direct the Committee.
The Committee structurally shall consist of the executives of the Bank of Russia to whose functions are relegated banking regulation and banking supervision and the executives of structural subdivisions of the Bank of Russia participating in the realization of the functions of the Bank of Russia with regard to the effectuation of banking regulation and banking supervision.
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