ASV will leave one of the key leaders

ASV will leave one of the key leaders

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Deputy General Director of Agency on insurance of contributions Andrey Melnikov

Photo: Sergey Fadeichev/TASS

Deputy head Andrei Melnikov leaves the Corporation. In addition, the Agency has announced changes in the organizational structure. Market participants attributed the permutation transformation functions ASV and changes in the Supervisory unit of the Central Bank

Deputy General Director of Agency on insurance of contributions (ASV) Andrey Melnikov on December 1, will leave the Corporation reported ASV.

Now his responsibilities — first and foremost the sphere of insurance of Bank deposits — will be distributed among the Deputy General Director of ACB Ruben Amirantes and Oleg Baranov. In addition, as the message of the Agency, to the Deputy Director General will be increased by the Director of the Department of liquidation of credit organizations Maria Filatova, as well as the Director of the Department of restructuring of financial organizations Georgy Agaptsev. The total management and control over the liquidation, the restructuring of the assets will remain the first Deputy of General Director ASV Valery Miroshnikov.

Melnikov worked in the Agency on insurance of contributions more than 12 years, since the founding of the Corporation in 2004. All this time he has held the position of Deputy General Director of ACB. Currently, he is one of four Deputy Directors General.

INCISION

The Deposit insurance system operates in Russia since 2004. The amount of compensation to depositors when the license of the Bank during this period increased from 100 thousand to 1.4 million rubles. According to the DIA, since the beginning of the work of the Agency by October 2016, investors received refunds totaling 1.12 trillion rubles In the beginning of the month, the Central Bank approved another loan of ASV 220 billion rubles to increase the stability of the system of guaranteeing deposits. This will increase the total credit limit of Bank of Russia ASV to 820 billion rubles.

INCISION

In early October, the Central Bank announced a large-scale personnel changes. As was emphasized then in the statement of the head of the Central Bank Elvira Nabiullina, to solve the accumulated problems are not enough settings and the intensification of work within the existing Supervisory practices necessary deep restructuring of the supervision, updating of the entire system. Deputy head of CBR Mikhail Sukhov has resigned, the first Deputy Chairman of the Central Bank Alexey Simanovsky has moved to the position of Advisor to the Chairman of the Bank of Russia. In addition, the Central Bank changed the area of responsibility of a number of curators on issues of banking regulation and supervision and monetary policy.

In addition, the regulator is preparing a new model of Bank resolution. In one of its variants, the Central Bank can become the curator of the DIA, reported in October, the President of the Bank of Russia.

According to a source RBC in DIA, care Melnikov is not associated with the discussed change of control over the operational activities of the Agency to the Bank of Russia. Melnikov himself has refused to discuss the reasons for Friday, October 28. However, market participants see them in the transformation of the functions of ASV and changes in the Supervisory unit of the Central Bank.

“Changes in the organizational structure of the DIA is partly associated with the transformation of the Supervisory unit of the Central Bank, partly with a new approach to the issues related to banking license, including with their opinion”, — said the chief economist of Alfa Bank Natalia Orlova. It is very difficult to divide the positions of ASV and the Central Bank, as the DIA — in a sense an Executive body that executes the decisions of the Central Bank, she explains.

According to the President of the Moscow international currency Association Alexey Mamontov, care Melnikov is associated, rather, with the fate of the Agency itself — will it exist as an independently operating unit or not. “The DIA remains less independent functions, including the management of the Deposit insurance Fund. The Central Bank has embarked on a gradual assimilation of DIA functions”, — said the head of the Bank’s top-50.

He adds that the distribution of responsibilities in the DIA seems the logical solution. “Between the Ministry of Finance, ASV and the Central Bank reached a compromise. And if the Agency changes its function, his old team, which created the DIA should leave,” he says. “In the future the Central Bank will have a majority of votes in the Board of Directors of ASV, so perhaps care Melnikov is not the cause but the consequence of the loss of the identity of the Agency,” adds the expert “Interfax-TSEA” Alexey Buzdalin.

With the participation of Catherine of Marjolie