MOSCOW, Sept 16 Russia's mid-sized brokerage Kit
Finance said on Tuesday it had failed to meet some of its
financial obligations amid falling markets, signalling problems
in Russia's financial sector.
"Several large clients could not meet their obligations to
us, the market is falling, liquidity is scarce, therefore we
could not meet some of our obligations," Kit's head Sergei
Grechishkin told Reuters.
Grechishkin's comments were confirmed by Kit's
A government source who declined to be identified told
Reuters the situation in brokerages, which do not have direct
access to the central bank's refinancing facilities, is worse
than in the commercial banking sector.
"The situation in investment firms is worse than in
commercial banks," the source said.
(Reporting by Gleb Bryanski and Anastasia Onegina, editing by