Nabiullina did not see shocks due to new sanctions against banks Sanctions

Western countries on 14 banks did not cause new shocks and risks, since they were already ready for restrictions, Elvira Nabiullina believes.At the same time, some banks in the conditions of sanctions appeared "unacceptable practices"Elvira NabiullinaElvira NabiullinaElvira NabiullinaElvira NabiullinaElvira NabiullinaElvira NabiullinaElvira Nabiullina

New sanctions against Russian banks are no longer perceived as a shock and do not create systemic risks. This was stated by the HEAD of the Central Bank Elvira Nabiullina at the annual meeting of the leadership of the Bank of RUSSIA with commercial credit organizations, which is held by the Association of Banks of Russia, RBC correspondent reports.

“The recent addition of new banks to the sanctions lists is no longer perceived as a shock event, does not create systemic risks compared to banks that were previously sanctioned,” Nabiullina said. She added that these banks were better prepared in terms of reducing assets that could be blocked, and they are also automatically subject to the support measures of the Bank of Russia, which were created for such situations.

At the same time, the sanctions continue and will continue to affect the dynamics of the banking sector and the economy, says Nabiullina: “We will continue to take measures that will minimize this impact.”

Nabiullina announced the exit of the majority of banks in profit

The US , EU and UK have imposed new large-scale sanctions against Russian banks on the anniversary of the start of Russia's special military operation in Ukraine. 11 credit institutions fell under the toughest blocking US sanctions: Credit Bank of Moscow, Uralsib, MTS Bank, Zenit, Metallinvestbank, SDM Bank, Lanta Bank, Levoberezhny, Bank St. Petersburg, Primorye » and the Ural Bank for Reconstruction and Development. Four of them - St. Petersburg, Zenit, Uralsib and MTS-Bank - also came under British sanctions. The EU imposed sanctions against Rosbank, Alfa-Bank and for the first time against Tinkoff Bank.

In general, “the acute phase of the crisis has passed,” but “new unacceptable practices have appeared,” Nabiullina said during her speech. “This is irresponsible towards people and the long-term sustainability of their own business. We would not like to run around the market with a baton - which we have, of course - therefore, I repeat once again, we hope for the prudence of the bankers, ”said the head of the Central Bank.

According to Nabiullina, some banks are trying to make quick money to compensate for the decline in profits last year, but “such behavior is fraught with our increased attention and tightening of regulatory screws, because, of course, we will not allow systemic risks to materialize and we will make sure that really long-term the banking system was stable.”

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The Bank of Russia formulated measures to support banks at the beginning of 2022 and then extended some of them. In particular, the following concessions work:

Until July 1, 2023, Russian banks may not disclose “sanction risk-sensitive information.” Banks may not worsen their quality assessments and not create additional provisions for loans affected by the sanctions. We are talking about loans issued before February 18, 2022. For loans to legal entities with a delay of up to 90 days, banks must form coverage for possible losses by June 30, 2023. For loans to individuals and small and medium-sized businesses, banks will be able to apply preferential terms of reservation until December 31, 2023. Until June 30, 2023, the Central Bank will not punish banks for violating the concentration standards for balances in the National Clearing Center and the National Settlement Depository. Because of the sanctions, banks have effectively lost the ability to manage concentration risk on certain assets. For systemically important banks, the Central Bank decided to keep relaxations in liquidity ratios for another year. Large players will be able to keep the value of the short-term liquidity ratio (TLC) below 100%, but are required to have a plan aimed at improving the situation in 2023.