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Financial Turbulence Tests Resilience Of Russian Banks And State Support For Banking Sector Sep 08 Product Image

Financial Turbulence Tests Resilience Of Russian Banks And State Support For Banking Sector Sep 08

  • ID: 1810645
  • September 2008
  • Region: Russia
  • Standard & Poors

FEATURED COMPANIES

  • Bank Soyuz
  • Gazprom OAO
  • Gazprombank
  • National Factoring Co.
  • Raiffeisenbank ZAO
  • Rosbank OJSC JSCB
  • MORE

Abstract
LONDON (Standard & Poor's) Sept. 22, 2008--Standard & Poor's Ratings Services said today that it is seeing more Russian government willingness to pursue orthodox support measures to address financial turmoil. However, the continued institutional weakness in Russia makes the outcome of the measures unpredictable. This is not the first time, and will not be the last, as Russia is prone to liquidity panics in the interbank and retail markets. The Russian banking system continues to be severely tested by the sharp liquidity squeeze and the massive volatility in global equity markets. No ratings on financial institutions in the country have so far been lowered, although the positive outlooks on the long-term ratings on seven Russian financial institutions have today been...

Companies mentioned in this report are:
- Gazprom OAO
- Commercial Bank Petrocommerce OJSC
- ZAO UniCredit Bank
- Surgutneftegasbank
- TransCreditBank
- Gazprombank
- Bank Soyuz
- Rusfinance Bank
- Rosbank OJSC JSCB
- VTB Bank JSC
- National Factoring Co.
- Raiffeisenbank ZAO

Action: General Comment

Standard and Poors RatingsXpress Credit Research READ MORE >

- Gazprom OAO
- Commercial Bank Petrocommerce OJSC
- ZAO UniCredit Bank
- Surgutneftegasbank
- TransCreditBank
- Gazprombank
- Bank Soyuz
- Rusfinance Bank
- Rosbank OJSC JSCB
- VTB Bank JSC
- National Factoring Co.
- Raiffeisenbank ZAO

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