Association: Banks suggest capital injections from Natl Wealth Fund

MOSCOW, Sep 5 (PRIME) -- Russian banks have suggested that the central bank consider capital injections from the National Wealth Fund, the Association of Russian Banks said in a letter to the regulator published on Monday.

“Credit institutions suggest consideration of capital injections into the banking sector using the money of the National Wealth Fund of the Russian Federation in order to ensure stability of the credit institutions,” the letter read.

It is important to ensure equal access to capital injections for all members of the banking market, not only for the largest federal banks, the association said.

In May, Central Bank First Deputy Chairman Dmitry Tulin said that the current crisis would mean that some Russian banks will need capital injections and that the central bank would discuss government’s participation part in that.

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