Russian cbank sets Basel III LCR requirement at 70% from Jan 1

MOSCOW, Sep 7 (PRIME) -- The Russian central bank has set the liquidity coverage ratio (LCR) requirement for systemically important banks under Basel III rules at 70% from January 1, 2016, the authority said in a statement Monday.

The ratio will then be raised by 10 percentage points annually until it reaches 100% from January 1, 2019, the central bank said.

Sberbank, VTB, Gazprombank, Russian Agricultural Bank, Alfa–Bank, UniCredit Bank, Raiffeisenbank, Otkritie Financial Corporation (FC) Bank, Rosbank and Promsvyazbank were earlier listed as banks subject to this regulation. The criterion will be calculated for entire banking groups.

The central bank made the decision “taking into account the current financial market situation and also the necessity to adjust internal information systems of credit organizations in order to ensure settlements and compliance with short-term liquidity norms on a consolidated level.”

End