CBR promised to sanitize only systemically important banks
The Bank of Russia plans rarely to sanitise the banks, resorting to this mechanism only for systemically important credit institutions. This was stated by the Chairman of the Central Bank Elvira Nabiullina. Rehabilitation of three Bank groups cost the Bank of Russia 1.5 trillion rubles., it is possible to prevent economic losses in the amount of not less than 2.6 trillion rubles.
Remember the story of Lehman Brothers. The collapse of this investment Bank has brought down the stock and commodity markets, and if not for the prompt actions of the U.S. Federal reserve, could cost the global economy a long and painful recession.
However, last year’s actions of the Central Bank look rather controversial. From our point of view, all clients of private banks should bear corresponding business risks. The current system of Deposit insurance has long outlived its usefulness and needs reform. From our point of view, the state guarantee for the deposits in private banks should be abolished. However, it is advisable to return government guarantee on deposits in Sberbank, regardless of the size and currency of the Deposit. Deposits in the “savings Bank” should be treated as sovereign debt of the Russian Federation.
The Director of analytical Department,