Putin seeks proposals on Basel III risk issue this month -economy minister

Euronews | Aug 15, 2019 at 4:04 PM
  • President Vladimir Putin has given officials until the end of August to make proposals on how Russia should assess commercial borrowers’ risks under new international rules that the domestic banking sector plans to adopt.
  • Top Russian borrowers including Gazprom <GAZP.MM>, Tatneft <TATN.MM> and Novatek <NVTK.MM> have backed the finance ministry and asked Putin in a letter to do likewise.
  • Using domestic ratings as a reference point would allow banks to cut lending rates, strengthen financial stability and ease the refinancing of external debt.