RUSSIAN BANKING ASSOCIATION PRESIDENT: BANKING MARKET TO GET CALM VERY SOON

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ROSTOV-ON-DON, June 23 (RIA Novosti) - The Russian banking market will calm down very soon, in July, Garegin Tosunyan, president of the Russian Banking Association, told RIA Novosti in the interview on Wednesday.

There is "no banking crisis in the country. It is only the unsettled market, which is calming down", Tosunyan said.

In his opinion, the current situation is due to the Sodbusinessbank (its licence has been withdrawn) and the effects of "ill-considered statements".

"The Central Bank is now more cautious in its utterances", Tosunyan said.

He cited the Central Bank as saying that "there are no instructions and no black lists in existence to cut the number of banks". The Central Bank will help banks if necessary, he said.

Tosunyan arrived at Rostov-on-Don to attend the conference on the state of the banking system in the Southern federal district. The conference was held at the office of the presidential plenipotentiary.

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