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Sberbank’s CEO asks central bank to ease liquidity shortage in banking sector

January 24, 2014, 13:04 UTC+3 DAVOS
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DAVOS, January 24. /ITAR-TASS/. Sberbank’s CEO Herman Gref called on the Bank of Russia to ease a cash shortage that he said is forcing lenders to raise rates. He said so in an interview with Bloomberg at the World Economic Forum in Davos.

“Even we feel it,” Bloomberg quotes Gref as saying. “There is a fight for liquidity. What to do? Quickly introduce new instruments, as it’s not a short-term problem.”

Russia’s Central Bank reports 1.15 trillion rubles in correspondent accounts and banks’ deposits as of January 24 against 1.74 trillion rubles year-on-year.

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