AGREEMENT ON EURASIAN COUNCIL OF CENTRAL (NATIONAL) BANKS

of November 18, 2015

National Bank of the Republic of Belarus, National Bank of the Republic of Kazakhstan, National Bank of the Kyrgyz Republic, the Central bank of the Russian Federation and the National Bank of Tajikistan which are referred to as further with "Parties" or "the Central (national) Banks", being guided by the purposes of effective interaction, preserving and deepenings of the integration relations in the financial and bank sphere agreed as follows:

I. General provisions

1. Create Eurasian council of the Central (national) Banks.

2. Eurasian council of the Central (national) Banks (further - Council) is legal successor of Council of heads of the Central (national) Banks of the State Parties of the Constitutive treaty of Eurasian economic community and all solutions of the last continue to be effective.

3. Council is advisory advisory body of the central (national) participating banks of this agreement.

4. Decisions of Council have advisory nature.

II. Tasks and functions of Council

5. Task of Council is deepening of integration in the financial and bank sphere, coordination of actions of the Parties concerning development of national monetary and bank systems, enhancement of the multilateral and bilateral payment and settlement relations and to other questions within competence of the central (national) participating banks of this agreement.

6. The main function of Council is decision making of advisory nature on the following questions:

- interaction of national bank systems;

- banking supervision, proceeding from the basic principles of effective banking supervision determined by Basel Committee on Banking Supervision;

- payment and settlement relations, including enhancement of the mechanism of mutual payments in national currencies;

- legal regulation of banking activity and market of financial services;

- financial monitoring and currency exchange control;

- prevention of violations of the bank and foreign exchange legislation;

- functioning of information bank systems, their interaction and exchange of information;

- financial literacy;

- auditor activities;

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