BOFIT Viikkokatsaus / BOFIT Weekly Review 2016/13
The CBR will apply the new capital standards to all credit institutions regardless of size, while the Basel III liquidity requirements effective from the start of this year apply only to Russia’s ten largest, systemically important, banks (i.e. Unicredit, Gazprombank, VTB Bank, Alfa-Bank, Sberbank, Otkritie, Rosbank, Promsvyazbank, Raiffeisenbank and Rosselkhozbank). Russia’s Deposit Insurance Agency and state development bank VEB are considered public sector entities that are exempt from bank regulation. The Basel Committee’s report on Russia noted that implementation of the Basel III rules has only just begun and evaluation of their efficacy will take time.