Kudrin: bill to be submitted in year to raise bank capital requirement to 1 bln rubles

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Kudrin: bill to be submitted in year to raise bank capital requirement to 1 bln rubles

RUSSIA-BANKS-CAPITAL

Kudrin: bill to be submitted in year to raise bank capital requirement to 1 bln rubles

MOSCOW. Nov 25 (Interfax) - The Russian Finance Ministry is prepared to submit a draft law within a year that would raise the capital requirement for banks to 1 billion rubles, Deputy Prime Minister and Finance Minister Alexei Kudrin said.

Kudrin, speaking at a forum organized by the newspaper Vedomosti, said he thought the requirement should take effect five years after the bill is passed.