According to the head of the Russian Banks Association, Garegin Tosunyan, the responsibilities of the Central Bank should be divided between emission, control bodies and the other body occupied in regulatory activities, i.e. licensing, management of exchange rates, etc. Otherwise, according to him, we get a paradox, where the same body issues currency, functions in the open market and controls the financial field at the same time. “In many countries, these functions are divided under one system. I think they should try to do so, but be careful too”, says G. Tosunyan.
