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There are no systemic risks in Russian banking sector — Deputy Finance Minister

November 18, 2015, 11:12 UTC+3 MOSCOW
The level of capitalization of banks and access to liquidity do not cause any concern, Deputy Finance Minister Alexey Moiseev says
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© TASS/Sergei Konkov

MOSCOW, November 18. /TASS/. There are no systemic risks in the Russian banking sector, the level of capitalization of banks and access to liquidity do not cause any concern, Deputy Finance Minister Alexey Moiseev told TASS Wednesday.

"Carried out measures of anti-crisis support had a significant positive impact on banks and received positive feedback, including the IMF, as the appropriate in terms of design, size and timing. Accordingly, the level of capitalization and access to liquidity do not raise any fears," he said.

Earlier, the Head of Sberbank German Gref said that Russia is experiencing a large-scale banking crisis. According to him, next year will be no less difficult for the Russian banking system.

Deputy Economic Development Minister Nikolay Podguzov told TASS that Russia's banking system regularly performs all its assigned functions in lending to both the public and the real sector, and the level of capitalization of the banking system is acceptable after the implementation of the government's measures for additional capitalization.

The anti-crisis plan that started at the end of 2014, has 60 measures with estimated value of 2.332 trillion rubles ($35.94 bln). The document includes emphasizing seven key areas for the implementation of measures to combat the crisis. Among them — increasing stability of the banking system.

In particular, the plan included the point about additional capitalization of banks with funds provided by the State Corporation Deposit Insurance Agency through the federal loan (OFZ) mechanism in the amount of funding of 1 trillion rubles ($15.43 bln).

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