The statement says that earlier last night the Bank of Russia hosted a meeting of Sergei Ignatiev, chairman of the Central Bank, and Russian Banks Association president Garegin Tosunyan attended by the Association board members. Discussed during the working meeting were the measures taken by the Central Bank to remove the excessive nervousness in the banking market.
"The Russian Banks Association and the Bank of Russia are convinced that the undertaken measure will promptly improve the situation, reads the statement.
The Russian Central Bank's administration and representatives of the banking community were unanimous in believing that there are no prerequisites for banking crisis in Russia.
The Russian Banks Association backed the Central Bank's measures aimed at additional increase in liquidity of the national banking system by twofold reduction (down to 3.5%) of the charges to the required reserves fund, the Central Bank's legislation initiative on insuring natural person's deposits in all banks irrespective of their accession to the deposits insurance system and settlement of the situation around the problem GUTA bank.
Representatives of the banking community regard as a positive event the fact that in response to the Russian Banks Association's request the Bank of Russia's administration adopted an operational instruction on freezing the penalties against commercial banks for violation of the Bank of Russia's acts issued in compliance with the new edition of the law "On monetary regulation and monetary control" that came into force on June 18, 2004.
