Stress tests show Russia's banks to survive foreign markets closure: central bank

MOSCOW Fri Apr 4, 2014 7:02am EDT

A general view shows the Bank of Russia headquarters in Moscow February 8, 2010. REUTERS/Denis Sinyakov

A general view shows the Bank of Russia headquarters in Moscow February 8, 2010.

Credit: Reuters/Denis Sinyakov

MOSCOW (Reuters) - Stress tests done by the Russian central bank have shown that the country's banks would survive if their access to foreign markets was closed as a result of possible sanctions against Russia, a central bank senior official said on Friday.

"Our estimates show that the system will operate," First Deputy Central Bank Governor Alexei Simanovsky told the upper house of parliament. "Stress tests have shown that we will survive."

Simanovsky said that parameters of the tests included possible blocking of accounts, closing access to international markets and 30 percent depreciations of the ruble, among others.

(Reporting by Oksana Kobzeva; Writing by Lidia Kelly, editing by Jason Bush)

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