Sberbank: Banks may lose 10 bln rbl on new currency reserves ratio - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Sberbank: Banks may lose 10 bln rbl on new currency reserves ratio

MOSCOW, Jul 24 (PRIME) -- The Russian banking system may lose almost 10 billion rubles of income to provide for additional reserves against foreign currency liabilities under a recent central bank ruling, Mikhail Matovnikov, chief analyst at top bank Sberbank, told PRIME late on Monday.

Earlier on Monday, the central bank said it would raise the regulatory ratios of reserves against all foreign currency deposits by 1 percentage point starting from August 1 in order to de-stimulate the increase of share of foreign currency liabilities in the banking system.

УFor the whole banking system, the additional payments to the obligatory reserve fund will amount to about 156 billion rubles. This central bank move may mop up excessive ruble liquidity invested in income-generating instruments, like the central bankТs deposits. As a result, the banking systemТs income will fall by almost 10 billion rubles short per year given the current interest rates,Ф Matovnikov said.

The increase of the ratio will also add about 7 basis points to the cost of foreign currency deposits for banks, raise the cost of loans, and reduce attractiveness of foreign currency borrowing.

The Russian banking system is already going through active de-dollarization. As compared with the beginning of 2016, provision of foreign currency loans has fallen by 18%, and foreign currency deposits have shrunk by 12%, he said.

(63.1957 rubles Ц U.S. $1)


24.07.2018 08:29
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 72.6243 -0.2069 24 aug
USD 65.6046 -0.0150 24 aug
Stock Market Indices
1D 1W 1M 1Y
rtsi 1268.45 -1.11 18:50 23 aug
micex 2660.74 -0.54 18:50 23 aug
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 229.35 -1.17 18:49 23 aug
lkoh 5183.50 -1.73 18:49 23 aug
rosn 405.60 -0.10 18:49 23 aug
sber 219.50 0.00 18:49 23 aug
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 72.6700 -0.4825 14:59 23 aug
USDTD 65.7350 -0.1625 17:44 23 aug