MOSCOW, Jul 5 (PRIME) -- Russia’s Federal Treasury will reduce the requirement for capital of banks participating in its deposit auctions on July 16, Stanislav Prokofyev, deputy director of the authority, said at a discussion on Thursday.
“According to a decision of the Finance Ministry, the Russian treasury is liberalizing (its policy) step by step, and the first set of changes will come in force from July 16,” Prokofyev said.
“The admission level is now 250 (billion rubles). Starting from July 16, banks without state interest will be admitted to our money if their capital is above 25 (billion rubles)… and with banks with state interest own equity must be over 100 billion.”
He said that 200 banks might start to participate in the auctions.
(63.2267 rubles – U.S. $1)
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