Large Russian banks face stricter control

Russia’s Central Bank plans to make a list of the most significant Russian banks in order to impose stricter controls on them, local media Rossiyskaya Gazeta reported on Dec. 4.

“The relative sizes of the banks’ assets and debt capital, as well as mutual dependence on other financial institutions, will be taken into account,” the newspaper wrote.

The list of the most significant Russian banks that will be put together by the Central Bank of Russia will not include those banks whose assets are not large enough and debt capital is low, Yevgeny Nadorshyn, chief economist at the Sistema conglomerate, commented.

“I think when the Central Bank proposed this rating, it already approximately knew which banks will be included in the list,” he added.

The Central Bank’s criteria might be satisfied by approximately 14-20 banks, according to initial estimations. The names of the ‘winners’ are planned to be announced in 2014.