Russia's top banks ready to follow new Basel II standards - Ulyukayev
MOSCOW. Oct 2 (Interfax) - The biggest banks in Russia are ready to following the new Basel II standards, the Central Bank of Russia's First Deputy Chairman, Alexei Ulyukayev, said at the "Russia Calling" Forum.
Commenting on the anxiety surrounding a fast move to Basel II standards, such as VTB chief Andrei Kostin's comments at the forum, Ulyukayev said, "We aren't doing this in haste."
Ulyukayev said that leading banks, such as VTB and Sberbank , are already ready to meet Basel II requirements for capital and liquidity.
Kostin, replying to Ulyukayev, said that his worries are not driven by a planned move to Basel II standards but the "hasty" move to Basel III requirements. Furthermore, Kostin added that he considers it incorrect "to make two frames of reference" in regards to Basel standards, one for major banks and the other for the remaining banks in the system.
Ulyukayev said that the CBR is open for discussion with the banking sector.
"We're open for discussion," he said.
He added that "system-wide institutions are the most important for us" and, therefore, they are subject to the strictest of requirements.
