Unofficial translation see at the bottom

To: Dmitri V. LUBOMUDROV

Vice-president

Commercial Bank "LEGPROMBANK"

 

Dear M-r Lubomudrov !

By considering materials, represented by you, on a problem of decrease of risks in a banking system and on measures for increase of confidence to russian banks on the part of the enterprises, investors and population we inform the following.

In conditions of crisis economy are quite justified and the pitches on basic separation of a banking system of country on "banks with increased risk" and "banks with reduced risk" are reasonable. Banks with increased risk, to which the existing today universal banks concern, in the correspondence with the standard license can accept the diversified risks - under the credits, bills and guarantee, warranties, on forward contracts, currency and other. Despite of regulation of activity of banks on the part of Central Bank of Russian Federation in the correspondence with the spefications, the bankruptcy of banks owing to "of excessively hazardous credit policy" has accepted a mass character, from what the clients of banks - factories and private persons first of all suffer, the confidence to a banking system of Russia as a whole as inside country, and abroad drops.

In conditions of incomplete legislative basis it is represented especially important to take measures to emerging "of banks with reduced risk", for example - offered you "Specialized Clearing & Control No-Risk Banks" (No-Risk Banks), which voluntary, introduction of a rigid contractual internal system of restriction of risks, and also following a principle "each customer only itself disposes of the money", in a population with granting of services on budget both monitoring of the projects and enterprises objectively are capable with the cource of time to change in the best party a situation with crisis of confidence in a banking system, to improve an investment climate and to promote transference of the greater part business-risk from banks on businessmen. Such pitches by all means will reduce in growth of the economic responsibility of the enterprises for solutions, accepted by them, in the field of management of money, to development of consulting functions of banks and to general decrease of system risks in a bank orb.

It is possible to recommend to the enterprises, investors, and also Central Bank and appropriate Government Offices closely to consider your offers and to include them in the programs of perfecting of a banking system and in the programs supposing interaction with banks, first of all - in the investment projects including of foreign investors.

February 17, 2000, Moscow

                                                        Signature \ seal

e-mail : ldv777@hotmail.com или ldv777@mail.ru

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