Yerevan /Mediamax/. Armenia presented its methodology for carrying out stress-testing, elaboration of stress-scenarios and assessment of the possible risks at the session of the Council of heads of state bodies, regulating securities markets in CIS countries, which is in process in Yerevan today.

Mediamax reports that member of the Board of the Central Bank of Armenia Karine Minasyan said this in Yerevan today.

“Since Armenia’s financial sector has not felt serious consequences of the global crisis, we had the chance to very seriously develop our methodology for assessing financial stability”, Karine Minasyan stated.

According to her, it would be out of place talking about serious influence of the global crisis on Armenia’s security market, since the correlation of the given market to GDP makes only 1.5%, which is far lower, as compared to a number of CIS countries. “Thus, the main influence of the crisis on Armenia’s security market is the slowing down of its development because of lack of investors”, Karine Minasyan stated.

She noted that the goal of the Council of heads of state regulators of CIS countries’ securities markets is formation of a single integrated field on securities market of Commonwealth countries, setting up a single platform in future for activity of investment companies, as well as elaboration of harmonious legislations for the participants of CIS countries’ stock markets to be able to function in Commonwealth markets without serious limitations.