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Basel standards for Russian banks to be delayed — expert

January 29, 2015, 15:37 UTC+3 MOSCOW
The Central Bank said last October that Basel-3 liquid coverage ratio will be introduced since July 1, 2015 as a prudential standard instead of January 1
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© ITAR-TASS/Sergei Bobylev

MOSCOW, January 29. /TASS/. Basel-3 standards for Russian banks should be delayed so as not to restrict lending, the head of the Association of the Russian Banks (ARB) Garegin Tosunyan said on Thursday.

"The regulator has already postponed introduction of certain Basel standards. I believe it is inappropriate now to take measures that will limit lending," Tosunyan added.

The Central Bank said last October that Basel-3 liquid coverage ratio will be introduced since July 1, 2015 as a prudential standard instead of January 1.

The regulator added that this postponement will help the Russian banking sector to be better prepared for the new standards.

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