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“Potential direct consequences for the Russian financial system in case of Ukraine escalation are limited. Russian banks’ deposits in subsidiaries in Ukraine and loans allotted to Ukrainian residents do not exceed 1% of their assets,” says the document.
The CBR also noted the probability of the Ukrainian economic troubles causing another stage of geopolitical tensions.
Russian banks may only lose up to 0.4 percentage points of capital adequacy and they will remain sustainable even if the stock market becomes as volatile and if it decreases as much as it did in January-March, the central bank said in a financial stability monitoring report released on Tuesday.
“The dynamics of market indicators allows us to qualify the events of the first quarter as a moderately negative stock exchange shock. The decline of the market price for securities which banks have at their disposal amounted to 200-300 billion roubles as the result of the shock,” the central bank said.
The authority said separately that the direct consequences of the Ukrainian crisis will not undermine the Russian banks’ sustainability.