Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

The Bank Of Russia: Data Storage Requirements Will Be Changed
March 17, 2017 00:39


The Bank of Russia plans to strengthen requirements to the storage of documents and customers’ information by banks. The storage periods will grow, on the average, twice, and for some kinds of documents — seven times, up to 35 years.

The consent to the processing of personal data will be necessarily stored for 75 years, as the publication notes.

Bankers believe that the strengthening of requirements will lead to higher costs for document storage: the costs for rental of premises for archives and ensuring documents protection. The list of those dissatisfied with the new requirements includes major credit organizations, they have already appealed to the Association of Russian Banks (ARB).

“This measure is simply outrageous, that is why we have already written to the Central Bank requesting to cancel the order” - the Head of ABR Garegin Tosunyan told to the newspaper. According to him, the new standards will force lending organizations to shift a part of the additional costs to customers, which would increase the cost of credits in general.


Author: Anna Dorozhkina


Next Previous

You might also find interesting:

The Gold Coast beckons Russian Investors Buzz Barometer: China Admires Russia's Leader - WSJ Buzz Barometer: Russia In World Headlines Russian Law: Parliament in Action Cost Of the Kerch Bridge Construction Became Known

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
waste management  military exercises  Russian art  Moscow actions  Ryazan  Design  Russian Names  Peter Greenaway  Moscow  Mercedes-Benz Fashion Week Russia  Tula Region  Russian politics  Russian Cinema  Russian Avant-Garde  New Museums  tolerance in Russia  Folk Chorus  Elections  Painting  Dina Rubina  Free Wi-Fi zone   Planeta LeD  Chechnya  Russian business  Chelyabinsk Region  Boris Grebenshchikov  Catholicism  Primorsky Territory  Charity  Roman Abramovich  Russian tourism  Perm Krai  Archeology  Russian navigation system  Golden Mask  Valeri Kharlamov  Exhibitions in Moscow  Siberia  Chechen republic  Vladimir Medinsky  protests  Children's Writers  fairy tale tourism  Russian history  Kaluga Region  Tobolsk Kremlin  Moscow parks  Russian Literature  Federal Agency for Financial Markets  Anzhi Makhachkala 

Travel Blogs
Top Traveling Sites