Andrei Goncharov
Chief Executive Officer, OJSC Pervobank
Currency deficit is not observed at the moment. There is certain redundancy in currency liabilities after devaluation trends of autumn and spring. However, due to the deterioration of the "transportation" function of the banking system some local deficiencies may occur from time to time.
The aim to reduce the risks associated with possible sanctions, deceleration of passage of payments via foreign banks, intermittent problems with calculations of the major players has led to the fact that the rate of redistribution of monetary liquidity in the banking system have decreased significantly. Local demand from several major players, for example, to fulfil obligations on foreign currency borrowings, may temporarily cause an imbalance in the market and growth rates.
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Stepan Tchitipakhovyan
Chief Executive Officer, Transstroybank
In recent years, the cost of foreign exchange reserves in the interbank market increased slightly, but there is no shortage of foreign currency.
At the end of the year there may be an increased demand for foreign currency because of the inability to refinance previous credits of the banks and companies in respect to which Western sanctions were introduced. Starting from September to December 2014 Russian companies and banks need to repay the primary external debt of USD 65 886 million, while in December - USD 31 766 million.
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Aleksey Ovchinnikov
Vice-President, Ural Bank of Reconstruction and Development
UBRD does not feel shortage of foreign currency. We obtain the necessary resources to ensure smooth operation. It is clear that at certain moments the demand for dollars may increase and can exceed the offer leading to higher rates in the interbank credits. We already observe this, but so far the growth rate is insignificant, especially compared to the rouble rates. The situation will not come back to normal without cease of the sanctions standoff, but will not lead to the collapse either, therefore, I believe that our work will not be affected.
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