Capital Requirement for Credit Institutions will be Increased

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The minimal capital requirement for credit institutions will be increased almost twice, from 180 million roubles (app. 4.2 million euro) to 300 million roubles (app. 7.1 million euro), in January 1, 2012. Existing banks will have to bring their capital up to this level by 2015. There are over 100 credit institutions in Russia which do not comply with this requirement.

The minimal capital needed to obtain the general license, which entitles the organization to accept deposits from individuals and companies, remains unaffected - 900 million roubles (app. 21.4 million euro).