July 15, 2015 / 4:51 PM / 5 years ago

Russia central bank says to apply new capital, liquidity rules for 10 banks

MOSCOW, July 15 (Reuters) - Russia’s central bank said on Wednesday that it had identified 10 systemically important banks that would be subjected to additional capital and liquidity requirements in line with the Basel III regulatory framework.

The central bank said in a statement on its website that from Oct 1 the banks would have to maintain a liquidity coverage ratio of over 60 percent. From Jan 1 next year, this figure would have to be 70 percent, rising to 100 percent from Jan 1, 2019.

The central bank will also phase in from Jan 1 next year a capital conservation buffer for all banks. It will be higher for the systemically important ones.

The banks it listed as being systemically important were UniCredit Bank, Gazprombank, VTB, Sberbank , Alfa Bank, Otkritie, Rosbank, Promsvyazbank , Raiffeisenbank and Rosselkhozbank.

The central bank said those banks accounted for over 60 percent of the assets in the Russian banking system. (Reporting by Alexander Winning and Oksana Kobzeva, editing by Larry King)

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