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The Central Bank of Russia

In: Fintech Regulation and Supervision Challenges within the Banking Industry

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  • Felix I. Lessambo

    (Fordham University)

Abstract

In Russia, technical innovations affect virtually all banking products and activities. However, the competition from non-banks is less severe than in AEs since big banks are developing their own digital services, implementing new instruments and platform solutions, and improving their business processes. The CBR has recently introduced the sandbox regulation. The Bank of Russia’s regulatory sandbox is a mechanism for piloting and modeling processes of new financial services and technologies, which require changes in legal regulation, in an isolated environment.

Suggested Citation

  • Felix I. Lessambo, 2023. "The Central Bank of Russia," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Fintech Regulation and Supervision Challenges within the Banking Industry, chapter 0, pages 211-222, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-031-25428-4_17
    DOI: 10.1007/978-3-031-25428-4_17
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