OREANDA-NEWS. April 27, 2011. Yulia Bondareva, the Head of the Department for Control over Financial Markets of the Federal Antimonopoly Service (FAS Russia), and Department experts held a working meeting with representatives of the International Monetary Fund (IMF), reported the press-centre of FAS Russia.

The meeting agenda focused on discussing the state of the Russian financial sector, including the issues of normative-and-legal environment for developing competition on financial markets - between banks and other financial institutions.

The participants discussed the level of competition on the market of banking services, position of credit organisations, when the government has a share in their authorised capital, and cooperation of the Federal Antimonopoly Service with the Bank of Russia and the Federal Financial Markets Service.

The experts specially marked the current work of the Department for elaborating a draft Federal Law “On Introducing Amendments to Some Legislative Acts of the Russian Federation in the Part of Excluding Provisions that Give Advantages to Individual Economic Entities”, which is aimed to exclude such norms from the federal laws that can create unjustified advantages for individual credit organisations and constrain competition on the market of banking services.

“The meeting with IMF experts allowed us to exchange opinions on various areas of development of financial markets and, certainly, discuss efficient measures towards development of competition”, said Yulia Bondareva, the Head of the FAS Russia’s Department for Control over Financial Markets, commenting the outcome of the meeting.