200 + Russian banks may fail to meet Y 2012 capital requirement
Russia’s Central Bank warned Tuesday that more than 200 banks would fail to meet the minimum capital requirement that takes effect in Y 2012.
Alexander Turbanov, general director of the Deposit Insurance Agency, said banks could lose their licenses if their registered capital doesn’t reach the required 180 million rubles (US$5.9M) after Jan. 1, 2012.
Finance Minister Alexei Kudrin last year proposed to increase the minimum capital requirements for banks to 1 billion rubles (U$S32.8M) over the next 6 yrs.—Paul A. Ebeling, Jnr. www.livetradingnews.com
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