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Russian Central Bank approves list of 10 systemically important banks

October 20, 2015, 11:04 UTC+3 MOSCOW
The list includes UniCredit Bank, Gazprombank, VTB, Alfa Bank, Sberbank, Otkritie Bank, Rosbank, Promsvyazbank, Raiffeisenbank and the Russian Agricultural Bank
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Russian Central Bank

Russian Central Bank

© TASS/Anton Novoderezhkin

MOSCOW, October 20. /TASS/. The Russian Central Bank has approved the list of 10 systemically important banks, which will be subjected to additional equity and liquidity requirements in accordance with Basel III international standard, the Bank said Tuesday.

The list of systemically important banks includes UniCredit Bank, Gazprombank, VTB, Alfa Bank, Sberbank, Otkritie Bank, Rosbank, Promsvyazbank, Raiffeisenbank and the Russian Agricultural Bank.

The share of these banks account for over 60% of the total assets of the Russian banking sector, the Central Bank said in a statement.

As TASS reported earlier, the Russian Central Bank introduces the standard for short-term liquidity from January 1, 2016, with a minimum of 70% with an increase of 10 percentage points each year until it reaches the value of 100% from January 1, 2019. Requirements are introduced in particular in respect of short-term liquidity and capital buffers.

In mid-July the Russian Central Bank said that making the decision the Bank took into account the current situation on the financial markets, as well as the need to improve the internal information systems of the credit organizations.

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