Russia central bank to introduce new liquidity requirement for big banks from Jan 1

[MOSCOW] Russia's central bank said on Monday it had formally decided to introduce new liquidity rules for systemically important banks related to the Basel III regulatory framework.

From Jan 1 next year, systemically important banks will have to maintain a minimum liquidity coverage ratio (LCR) of 70 per cent.

The minimum LCR will increase by 10 percentage points each year to reach 100 percent from Jan 1, 2019.

The banks listed as being systemically important when the LCR plans were earlier announced in July were UniCredit Bank, Gazprombank, VTB, Sberbank, Alfa Bank, Otkritie, Rosbank, Promsvyazbank, Raiffeisenbank and Rosselkhozbank.

REUTERS