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Finance Ministry insists on raising minimum capital requirements for banks

March 21, 2012, 17:55 UTC+3
The Finance Ministry will support the consolidated banking system, Siluanov said
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MOSCOW, March 21 (Itar-Tass) —— The Russian Foreign Ministry called for raising minimum capital requirements for banks to one billion roubles after 2015.

“The position of the Finance Ministry is as follows: we could raise minimum capital requirements for banks more energetically,” Finance Minister Anton Siluanov said on Wednesday, March 21.

The current minimum capital requirement is 300 million roubles from 2015. “But what’s after that? We in the government are discussing this and there are different proposals. Let’s make it one billion roubles. I think this is possible and normal,” the minister said.

Siluanov said that the greater the capitalisation of lending institutions, the more lending opportunities they will have.

There are a number of small banks, including regional ones, whicht are quite stable and service a limited circle of customers.

The Finance Ministry will support the consolidated banking system, Siluanov said.

In his opinion, bigger capital requirements will also make it easier for the fiscal authorities to oversee the banking system in general.

“The discussion is on and we will decide what is going to happen after 2015 in consultation with the banking community,” the minister said.

 

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