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Close study of situation with US banks needed to obtain right takeaways — Bank of Russia

First deputy governor of the Bank of Russia Kseniya Yudaeva characterized the US banking crisis with a paradoxical aphorism

MOSCOW, March 23. /TASS/. It is necessary to closely study and draw conclusions from the current situation involving the US banking crisis, Kseniya Yudaeva, first deputy governor of the Bank of Russia, said at the ACRA Forum.

"We should learn not merely from our own mistakes, but also from the mistakes of others. We have a reason to stop and think about this. This case [the situation surrounding US banks] has to be looked into thoroughly and studied in order to come to an understanding of whether or not it may affect us," the central bank official said.

Yudaeva characterized the US banking crisis with a paradoxical aphorism, attributed to the late Russian Prime Minister, Viktor Chernomyrdin: "There's never been anything like this before, and now here we go again."

The situation in the US may affect the Russian economy, but it may be only indirect pressure, the senior central banker said. "We have already seen one of the potential implications: pressure is normally felt on oil prices and export prices in conditions where an economic downturn is expected or there is a squeeze on financial markets. The influence on our economy may nevertheless be felt through the current account," Yudaeva added.

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