Sunday, April 5, 2009

CB did not believe in a second wave of banking crises.

Kommentarii10? 20? Hundreds! 30.03.2009Rossii promise massive bankruptcies of banks Waves at dne25.03.2009Aleksey Kudrin warned on new wave krizisaV central bank does not share the view of the coming of the Russia in the second wave of banking crises associated with the growth of overdue debts. This was announced head of the Central Bank Sergey Ignatiev, RIA News. According to him, the most acute phase of the crisis passed.
Previously, that Russia is waiting for a new banking crisis, announced Vice-Premier and Finance Minister Alexei Kudrin. According to him, he arose from the fact that no companies will pay to banks on loans made earlier because of falling demand and economic activity in the country. In the Ministry believed that such difficulties banks face in autumn 2009.
In the Central Bank believe that the amount of arrears by the end of 2009 will reach 10 percent. In March, Alexei Kudrin said that in fact this point has already been passed, despite the Central Bank. According to Kudrin, the banks hide from the authorities of the real situation of overdue loans. According to the report the Central Bank on March 1, the amount of arrears of population is 4.1 per cent and legal persons - 3.1 per cent.
According to the President of Alfa-Bank Pyotr Aven, with an increase in delay up to 15-20 per cent can be splurging hundreds of Russian financial organizations.
The first wave of banking crises occurred in Russia in autumn 2008, when many financial institutions faced with a shortage of liquidity in the background of capital flight and a collapse in the stock market. Then the mass was able to avoid bankruptcy due to flow into the sector in the form of loans trillion rubles, as well as the introduction of special procedures for rescuing the banks in fact broken. Improvement of financial institutions involved in the Agency for Deposit Insurance in conjunction with the CBR.

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