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Central Bank deputy chair sees no risks for Russia’s banking sector over Cyprus

March 22, 2013, 15:55 UTC+3
“I see no threat of systemic nature, and even of individual,” Simanovsky said
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MOSCOW, March 22 (Itar-Tass) – The first deputy chairman of Russia’s Central Bank, Alexei Simanovsky, said he saw no serious risks for Russia’s banking sector over the situation in Cyprus.

“Our banking sector has no connection with the problems of the world, Europe and separate countries of Europe from the point of view of assets,” he told the 15th All-Russian Banking Conference on Friday.

“I see no threat of systemic nature, and even of individual,” Simanovsky said noting that his conclusion is based on rapid assessments of the situation in Cyprus made by the Central Bank of Russia.

He also noted that he did not expect either the outflow of deposits in Russian banks or significant inflow.

 

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