Russian Federation: Financial System Stability Assessment

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2003 Issue 147

Publication date: May 2003

ISBN: 9781451833096

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Topics covered in this book

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Banks and Banking , Finance , Corporate Governance , ISCR , CR , central bank , corporate governance , banking system , monetary policy , debt management , joint stock , payment system , insider trading , short term , Correspondent banking , Payment systems , Securities markets , Commercial banks , Africa , Global

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Summary

This paper presents key findings of the Financial System Stability Assessment for the Russian Federation. There are significant vulnerabilities and weaknesses in the financial sector, although given its small size, the macroeconomy would be relatively little affected by the immediate impact of any financial sector distress. Several interlinked issues cut across the banking, capital markets, and insurance sectors and contribute to the identified vulnerabilities. According to official data, banks are in general well capitalized, but the quality of capital is questionable, and loan loss provisioning may not fully reflect risks.