N e w s

The Central Bank of Russia has worked out new regulations for gold trade through clearing banks. According to the new rules, gold owners must get account notes from the banks holding their gold. After that, these documents are circulated on the interbank market.

Presently the selection of trustworthy banks is being conducted, RBC quotes the deputy director of the Department of International Transactions of CBR S. Kyshtymov. Particularly, he said that the following banks have shown interest in the new regulations: Sberbank, Vnesheconombank, bank "Renaissance", bank "Zenith" and Rosbank.

Kyshtymov said that at the moment ten Russian banks have provided the special security accounts for keeping gold. However, to be able to conduct a full value trade the banks need "impersonal accounts" when the gold owner does not take part in its actual delivery. At the same time the matter of "impersonal accounts" does not depend on CBR. In this case a government decree is required, said a CBR spokesman.

Source: Lenta.ru