CB's Ignatyev against sharp increase in lower capital threshold for banks

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CB's Ignatyev against sharp increase in lower capital threshold for banks

MOSCOW. Dec 8 (Interfax) - Central Bank Chairman Sergei Ignatyev said he was against a sharp increase in the lower equity threshold for banks.

"I'm against a sharp increase in raising the minimum capital for functioning banks," Ignatyev told reporters.

He said there were debates within the CB and with other agencies about what the new minimum threshold should be in future.

Deputy Prime Minister Alexei Kudrin, who is also the country's finance minister, has proposed raising the lower threshold to 1 billion rubles from 2015 or 2016. Some agencies are working on a new strategy for the banking sector to 2015.