Source Pravda.Ru

Russian banks' losses after July crisis

The Central Bank of Russia has published figures reflecting bank losses as a result of the July crisis and depositors' panic, Vedomosti reports. According to Deputy Chairman of the Central Bank Arnold Voilukov, the Central Bank issued 25 billion more rubles in cash than usual in the two days after Guta-Bank's licence was withdrawn.

There is no general information yet about how the cash inflow in our country increased in July. For example, a leading operator on the cash currency market, MDM-bank, brought in four times more currency - $200 million a day - in the second half of July than usual.

However, Voilukov stressed that the excessive 25 billion rubles in cash had already returned to the Central Bank. Bankers say deposits have resumed growth.

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