Nabiullina concerned that companies receive revenue in rubles take foreign currency loans – Mangazia

Photo: bloomberg.com Because of this, the Central Bank of the Russian Federation “will be smoothly “to carry out in 2016 de-dollarization of the banking system.

The Bank of Russia is concerned about the situation of foreign currency loans, which companies that receive revenues in rubles, taking in the banks, writes 66.ru. Therefore, as one of the objectives of the 2016 controller sees the de-dollarization of the banking system, he said the head of the Central Bank Elvira Nabiullina, reports “Interfax”.

According to Nabiullina, in late 2014 – early 2015 there was a growth of foreign currency deposits of the population, but then “managed to stabilize the share of foreign currency deposits”. She noted that the idea of ​​reducing the share of the foreign exchange component will affect also the capital of enterprises. “ measures that would stimulate reduction of the share from the assets and liabilities, we will take this year “, – she said, adding that to do so the regulator “will gradually”.

Elvira Nabiullina, the head of the Central Bank of the Russian Federation:

– When the currency is changing its course dramatically, this can lead to serious problems in servicing debt, especially enterprises that receive foreign currency loans, but do not have foreign exchange earnings. This we see in the real estate sector, trade, when we have shopping centers received loans in foreign currency and revenues – the ruble. Reduced rate sharply increased debt load, it may create systemic risks for the real economy and the financial system.

At the same time in 2015, the share of foreign currency deposits increased in eight of the ten largest banks, most of all – at the “FC Opening” -. To 9.82 pp, to 60.7%, RBC reports. For 2015 the total volume of retail deposits increased by more than twice – from 102 billion to 227.7 billion rubles.

According to the chief economist of the National Rating Agency Maxim Vasin, in 2016 the share of foreign currency deposits continue to grow.

Maxim Vasin, chief economist of the National Rating Agency:

– This process is fueled by the fact that the ruble deposits with high interest rates, opened in late 2014 – early 2015, completed, and investors are moving into the currency.

According to him, the situation will change only if the ruble will begin to harden, or if the government will introduce restrictions on the acquisition and currency movement.

Meanwhile, the currency in the past auction was growing at a heightened pace. By the evening of 11 February the euro was trading more than 91 rubles, the dollar -. 80. The official exchange rate of the euro established by the Central Bank for today is 89.34 rubles, US -. 79.11.