PRESS: Cbank may raise banks’ reserves norms on currency debts

MOSCOW, Jun 6 (PRIME) -- The Russian central bank does not rule out raising banks’ mandatory reserves on foreign currency liabilities, but there is no such decision yet, the central bank’s Chairwoman Elvira Nabiullina said in an interview with business daily Vedomosti released on Wednesday.

“We are discussing various measures, but at a very early stage. Including norms on mandatory reserves, but even a principal decision has not been made yet – there are pros and cons. Although such instrument is possible – to make norms of mandatory reserves on foreign currency liabilities higher,” she said.

Nabiullina also said that the central bank has applied to law enforcement agencies over deals of banks that are being bailed out by the Banking Sector Consolidation Fund with signs of 260 billion rubles of asset stripping.

She also said the central bank does not oppose credit organizations buying shares of Vozrozhdenie Bank. VTB Bank earlier showed interest in buying Vozrozhdenie Bank.

“We are interested only in Vozrozhdenie Bank having responsible owners,” she said.

(61.9822 rubles – U.S. $1)

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