The AEB performed conference “Recent Developments in the Regulatory Environment for Russian Banks with Specific Focus on the Basel Recommendations”

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Moscow, 30 January 2013. The AEB performed conference “Recent Developments in the Regulatory Environment for Russian Banks with Specific Focus on the Basel Recommendations”.

Frank Schauff, AEB Chief Executive Officer, commented, "This conference is organized to draw attention to political significance of the Basel implementation in strengthening banks’ transparency and improving risk management.”

The keynote speaker for this conference was Mr. Nout Wellink, the former Chairman of the Basel Committee on Banking Supervision and former President of the Dutch Central Bank. Mr. Wellink was involved in the development and deployment of the Basel recommendations and brings unique insight into how these have impacted the banking industry to date and with future implications.

Joerg Bongartz, Chairman of the Board, Deutsche Bank Ltd. and Chairman of AEB Banking Committee, added, "With this conference the AEB Investment and Finance Committee and the Banking Committee continue to arrange high level meetings and conferences, which contribute to the ever more important dialogue between public sector representatives and financial institutions from both Russia and Europe. I am pleased that we can start the year with such a focused and timely event. This is especially important in the light of the fundamental shift in regulatory environment and new responsibilities financial sector is undertaking now both globally and in Russia."

During the conference Mr. Alexey Simanovskiy, First Deputy Chairman of the Central Bank of Russia added his commentary on recent and proposed changes to the regulatory environment for Russian banks.

Mr. Vasiliy Pozdyshev from the Central Bank of Russia noted: “Now the question of the transition to Basel III on 1 January 2014 is not under consideration, but the Regulatory Commission will consider the results of the monitoring which will be started on 1 April 2013.”

Maxim Bychkov, EY Partner added: “In the new post-crisis reality the global banking industry is on the verge of a fundamental change and has to radically adjust its business models to survive. Risk management becomes a key factor of competition which becomes critical to all banks. Amount and seniority of attendees today are the best prove for it."

Stuart Lawson, Executive Director, EY and Chairman of AEB Finance and Investments Committee, noted, "This senior level conference comes an appropriate moment as the banking industry both globally and in Russia looks to the regulatory changes it may face as it enters the new year. Having the former Chairman of the Basel Committee address the conference provided unique insight and I am hopeful that we have a spirited and interesting panel discussion amongst the leading industry experts."

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