Moscow and Beijing call for complete denuclearization of Korean PeninsulaRussian Politics & Diplomacy May 26, 14:35
G7 summit kicks off in ItalyWorld May 26, 13:55
Kremlin spokesman says Russia stands with UK in war on terrorRussian Politics & Diplomacy May 26, 13:13
Russia looks for traces of extra-terrestrial life forms on ISS surfaceScience & Space May 26, 13:04
Press review: NATO's anti-terror Trump card and US' Syrian civilian body countPress Review May 26, 13:00
Russia warns NATO against military buildup along eastern borderRussian Politics & Diplomacy May 26, 12:01
Russia to sell over 360 cutting-edge helicopters by 2030Military & Defense May 26, 11:37
Trump’s limo too big to fit through Royal Palace gates in BrusselsWorld May 26, 11:18
Russian ambassador says Paris remains important partner for MoscowRussian Politics & Diplomacy May 26, 10:20
MOSCOW, April 19 (Itar-Tass) - Cyprus precedent undermines the basic principles of confidence in the banking system, Russian presidential advisor for economic issues Elvira Nabiullina said on Friday at the Russia'2013 forum organized by the Russian Savings Bank (Sberbank) .
“What was done in Cyprus is a dangerous precedent,” said Nabiullina who is about to take the position of CEO of Russia’s Central Bank.
“Individuals should not pay for regulators’ mistakes.”
“The post factum expropriation of some deposits on Cyprus is a violation of the fundamental rules of confidence,” she believes. “It is even more far-reaching than the bankruptcy of major banks.”
The Cyprus crisis will teach the megaregulator a lesson in strengthening macroprudential oversight, Nabiullina said.
She once again expressed the hope the Russians would eventually turn to keeping their private finances at banks in their homeland.