Russian Governmental companies will cooperate with permitted banks only

Only 100 banks are able to meet all requirements of Ministry of Finance and Central Bank.

11.Jul.14 3:47 PM
By Mikhail Prygunov
Photo Toinnov.com

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Russian Governmental companies will cooperate with permitted banks only

Deputy Head of the Ministry of Finance of Russian Federation Alexey Moiseev has told Reuters agency that only 100 banks are able to meet all requirements which were worked out by Central Bank and Ministry of Finance. These banks will be allowed to cooperate with governmental companies.

Moiseev also said that banks need to meet here main conditions. Their capital must be at least 10 billion rubles. At the same time they should be controlled directly or indirectly by the government. At the last but not the least is ability of the government to include bank in the list of strategic organizations.

It should also be mentioned that these requirements are less demanding in comparison with those that were planned in advance. Firstly the capital of bank should be not less than 16.5 billion rubles.

According to experts’ researches 70 Russian banks are able to meet the first requirement. State Duma and the Federation Council have already accepted a law in July. In accordance with this law only those banks that are able to meet all three requirements will be allowed to cooperate with governmental organizations.

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