At the meeting of November 22, 2006, the NSMA Board made a decision to establish
a National Securities Lending Committee. S.A. Shvetsov, Director of the Bank of
Russia Department of Operations in the financial markets, was elected a Chairman
of the Committee.
The goal of the National Securities Lending Committee is to determine a position
of the professional community for promoting the securities lending, including
development of legislative, regulatory, operational market structure, clearing
and settlement systems and their approval with government and administrative
bodies; elaboration of securities borrowing and lending standards for the
Russian financial market to generalize main procedures and optimal practices for
participants in the securities borrowing/lending field.
The objective of the National Securities Lending Committee is to provide
transparent and economically effective securities lending principles within the
nearest 1,5 – 2 years that would be turned into a normal practice of the Russian