A government commission has approved a draft law by the Federal Antimonopoly Service to tighten control over transactions by large banks, a source close to the government told Izvestia. Banks may be required to coordinate with the FAS when buying even small competing companies.
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FAS has received approval from a government commission for its bill to strengthen control over the transactions of large banks. According to the document, banks, microfinance organizations, insurers and leasing companies will have to coordinate with FAS the purchase of small competitors.
The list of organizations that will be subject to the new rules will be prepared by the government together with the Bank of Russia.
At the moment, FAS approval is required only for transactions with companies with a certain commercial value. For banks, this cost is 29 billion rubles, for microfinance organizations – 3 billion rubles, for leasing companies – 8 billion rubles, for insurance companies – 200 million rubles.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
