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Otkritie FC Bank Ranked Among Top 10 Systemically Important Banks by the Bank of Russia


The Bank of Russia has developed an approach to identify systemically important banks. According to that approach, ten lending institutions, including Otkritie FC Bank, may be included in the list, the Bank of Russia reports on its website. 

The financial standing of those banks may affect the entire banking industry because “as at 1 July 2015 the said creditinstitutions (including Russian credit institutions that belong to relevant banking groups) account for 60% of Russian banking assets”, the Central Bank mentions in its press release. 

The listed banks will be subject to additional capital and liquidity requirements under Basel III. In particular, short-term liquidity requirements will be introduced as well as additional capital adequacy requirements. 

The criteria used to identify systemically important banks included their size, the ratio of individual deposits to total deposits in the banking industry and the volume of interbank transactions (both lending and borrowing), RBC explains. Along with Otkritie FC Bank, the top 10 list also includes VTB, Unicreditbank, Gazprombank, Alfa-Bank, Sberbank, Promzvyazbank, Rosbank and Russian Agricultural Bank.