Crimean banks might need recapitalization
MOSCOW. April 2 (Interfax) - Banks located in Crimea could require recapitalization, Russian Central Bank First Deputy Chairman Alexei Simanovsky said.
He did not specify the amount of funds that could be required.
"Preliminary estimates indicate that some recapitalization will be needed in order to bring banks into line with Bank of Russia requirements," Simanovsky said.
"In accordance with the law, we are working on the basis that, probably, the minimum requirement for absolute capital [for banks in Crimea] will be 100 million rubles. And, accordingly, the banks will have a certain amount of time, 9-12 months, to bring this up to the minimum capital threshold for Russian banks [300 million rubles from January 1, 2015]. As regards capital adequacy ratios, these must meet the requirements [for Russian banks] by April 1, 2015," he said.
Simanovsky said that several Ukrainian banks told the Central Bank of their desire to continue operating in Crimea. "Six as far as I remember," he said.
"There are Ukrainian banks that say they will be working," Simanovsky said.
The Bank of Russia has not yet had to set up a dialog with the National Bank of Ukraine (NBU) on questions involved in the operation of Ukrainian banks in Crimea or Russian banks in Ukraine, but, Simanovsky said, he hopes cooperation will resume.
"We are ready to conduct [consultations with the NBU], we would be glad to do so, although it's not really happening now, but the complexity in the conduct of negotiations is not coming from us," he said. "We have the feeling that [the NBU] is not prepared [for a dialog]," he said.
"Sooner or later there will be normal relations between the national central banks of Russia and Ukraine. I hope it will be in the nearest foreseeable future," Simanovsky said.