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Sanctions Put Russian Banks Under Severe Pressure

Capital Economics said the risk of bank runs is building and could force banks to sell assets at depressed prices to meet demand from depositors wanting their cash back. Russian banks will be particularly hard pressed to meet demand to withdraw foreign currency, emerging Europe economist Liam Peach at Capital Economics said. He estimates Russian banks’ foreign currency cash on hand at $46 billion and short-term foreign currency deposits owed to individuals and companies at $280 billion.
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