The Bank of Russia transfers the control of all credit organizations of St. Petersburg from regional administrations to Moscow. The centralization will eliminate the influence of the authorities and local commitment.

Vice President of the Central Bank Olga Polyakova said that the current bank guards will supervise the banks of the region. The Regulator subdivision is in Moscow, so the control will be carried out remotely.

It is envisaged to pay special attention to official documents, regulations and standards.

Thus, the regional administrations will not be able to influence the decisions of the Central Bank subdivisions.

Moscow will take over control on April 18.

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