Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
The RUONIA Interest Rate Monitoring Committee, which includes representatives of the Bank of Russia and external representatives of the financial market, monitors the implementation of administrative functions in accordance with the principles for financial indicators of the International Organization of Securities Commissions.
The main tasks of the Committee:
monitoring the implementation of RUONIA administration functions; coordinating documents and procedures related to RUONIA administration; interacting with users of RUONIA, the urgent version of RUONIA and the RUONIA index.
The composition of the Committee is formed in such a way as to eliminate potential conflicts of interest. The members of the Committee are appointed not on the basis of their official position, but based on their professional competencies. They participate in the work of the Committee personally and do not have the right to delegate their powers to other persons. The members of the Committee do not receive payment for their activities as members of the Committee.
The appointment of the Committee members is based on the Order of the Chairman of the Bank of Russia. Its composition is valid until the re-issue of the Order of the Chairman of the Bank of Russia at the proposal of the Chairman of the Committee, the first deputies or deputy chairmen of the Bank of Russia, as well as the heads of the structural divisions of the Bank of Russia. The members of the Committee cannot be employees involved in the functions of collecting, processing, calculating the interest rate indicator and its publication. In addition, the members of the Committee cannot be employees of the structural divisions of the Bank of Russia, for which the RUONIA interest rate is involved in key business processes, including the development and implementation of monetary policy. External members of the Committee cannot be representatives of organizations from the list of RUONIA participants.
Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.
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