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Russian Central Bank wants talks on new banks capitalization increase off the agenda

Author: Irina Kozlova Section: Major Events of the Month

Issue: May 2012, Vol.7, No.5

Tags: CB

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Bank Capitalization

Russian Central Bank Chairman Sergei Ignatyev has said it is premature to start discussing a new benchmark of minimum capital for banks. On January 1, the benchmark was doubled to RUR180mln, whilst the next increase planned for 2015 will raise it to RUR300mln. However, this has not gone well with the Finance Ministry, which wants to increase it to RUR1bln after 2015. “The RUR300mln is accepted by most banks. Prior to 2014, I would not want to discuss this issue.” Currently, only about 300 banks have capital reserve in excuse RUR1bln.