Sergey Pyatenko, the FBK Economic and Law School general director, took part in the discussion on the prospective development of banking in Russia

In the press center of the “Parlamentskaya Gazeta” a panel discussion was held on the “Banking development in Russia: what is the closure of commercial banks fraught with for Russian economy?”
The experts invited by the edition, including Anatoly Aksakov, deputy chairman of the State Duma Financial Market Committee, Mikhail Belyaev, head of the bank sector of the Financial Consumers Protection Union, Dmitry Ushakov, the SD Budget and Tax Committee member, and others discussed the changes underway in the banking sector in connection with change of the attitude of the Central Bank towards marketers, and the prospective development of the banking sector.

Sergey Pyatenko, the FBK Economic and Law School general director, also took part in the discussion of prospects for the development of the banking sector in Russia.
In his speech he emphasized the specific role the banks play in the economic life: “If some seventieth in size engineering plant was shut down nobody would call press conferences or panel discussions. Banks is quite a different matter. They are like the vascular system of the economy – even a little clot can lead to disastrous consequences. And since it is so, the banks are under special attention. And banking everywhere in the world is one of the most strictly regulated sectors of the economy”.

According to the experts, the withdrawal of licenses and introduction of the external control in several large banks, which produced violent reaction both of the banking community and investors, aim at the recovery of the banking sector, and that is a positive process allowing reducing the risks for depositors in the future and strengthening the financial system at large.
The experts assured the investors that through the system of deposit insurance agencies citizens were sure to retrieve their money if the deposit did not exceed 700 thousand roubles.