Online marketplace subsidiaries could be added to list of systemically important banks in 2-3 years - Nabiullina

MOSCOW. April 1 (Interfax) - Online marketplace subsidiary banks could be granted the status of systemically important credit institutions (SICI) in two-three years, taking into account their scale on the payment market and level of integration in the ecosystem of their parent companies, Central Bank of Russia Governor Elvira Nabiullina said in a speech at the TOLK-2026 forum.

"The toughness of our regulations depends partly on the systemic importance of financial institutions. There are tougher requirements for the financial institutions which have systemic implications. And we will take into account the role which the banks play on the payment market and their integration in the ecosystem. According to our estimation, in around 2-3 years, certain subsidiaries of online marketplaces could already be added to the list of systemically important banks, taking into account the rate of their development. But this will mean equalizing competitive conditions," she said.