Report: Deputy fin minister says Russian banking system stable

MOSCOW, Aug 28 (PRIME) -- The Russian banking system is stable and will continue to operate regardless of the fate of individual banks, Deputy Finance Minister Alexei Moiseyev said in an interview to Rossiya 24 television channel broadcast on Monday.

“The banking system is absolutely stable because of a combination of an array of steps and because of a recent creation of several institutions, which provide the central bank with a great capability of introducing many different measures,” he said.

“I think that the system will continue stable operation regardless of the fate of this or that bank.”

Revocation of a license from Jugra bank in July became Russia’s largest payout case with deposits to be reimbursed standing at 169.2 billion rubles. The previous payout record was with Intercommerts bank, where payments on insured deposits exceeded 64 billion rubles. The third and fourth are Tatfondbank with a 57.6 billion ruble payout and Rosinterbank with 49.2 billion rubles.

(59.1476 rubles – U.S. $1)

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