"The Managers' Association calls on the Central Bank of the Russian Federation, bearing responsibility for the stability of the Russian banking sector, to provide detailed explanations for the existing situation and the measures being taken to resolve it, as well as clearly and unambiguously to state its vision of the near prospects and the development of this situation," the statement reads.
It also notes that the beginning of this summer has been highlighted by "the extreme instability of the Russian financial market: sharply rising rates on the interbank credits market, the falling corporate bonds market."
The Managers' Association notes "the increasing tension surrounding the situation, because these events are accompanied by the scarcity of information supplied to the business circles at large."
"The main regulator, the Central Bank of the Russian Federation, is conducting consultations inside the banking environment of whose content and results the business circles at large are not duly informed, if at all," the statement reads on.
The increasing inflow of unconfirmed information, the spreading rumor of the black list of banks pending withdrawal of license lead to an instability inside of the business community, as well as at the level of social consciousness, the association believes.
"In this connection, the Managers' Association insistently calls on all the parties involved to state their positions on the situation," the statement notes.
