Audio – Russian banks coping with subprime crisis

September 10, 2007

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Russia’s banking system is coping well with a liquidity crunch stemming from the U.S. subprime mortgage crisis, top central banker Konstantin Korishchenko told the Reuters Russia Investment Summit.

In a wide-ranging interview Korishchenko, the central bank’s point man for exchange rate policy, said he did not expect forthcoming presidential elections to lead to instability in Russia’s rouble currency. Russia has the world’s third-largest central bank reserves — of over $400 billion — enough to steady the rouble “for two elections”, Korishchenko said.

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