The process of recovery of financial markets is almost complete. For today it is possible to say with confidence that the activity of the remaining banks and companies is in accordance with Russian legislation and regulation. This was on Wednesday, May 24, said the first deputy chairman of the Bank of Russia Sergey Shvetsov, the agency "Prime". "The market is in an acceptable state, and there will not be any mass stories related to the revocation of licenses," Shvetsov added.. He also said that he supports the adoption in the spring session of the State Duma of the law on business reputation. In January, deputy chairman of the Central Bank Dmitry Tulin said that the completion of the process of improving the banking sector will take another three to five years.

Then he noted that there are also more optimistic estimates of the timing. The Bank of Russia began active recovery of the financial sector in 2013. Then the Central Bank began to regularly revoke licenses from banks. The initiator of the process was appointed at the same time for the post of the head of the regulator Elvira Nabiullina. In recent years, the number of banks in the country has decreased by almost a third.

Original article: CB completed a massive sweep of Russia's financial market.