The Bank of Russia noted that not all banks have time to prepare for the new requirements from 1 January 2019, and therefore decided the following year to be tightening gradually at the beginning of April, July, and October of 0.125 percentage points, and from 1 January 2020, by 0.25 percentage points, said Pozdyshev. The final decision on the transfer deadline is pending — the issue will be discussed at the meeting of the Board of Directors of the Central Bank, said the Chairman of the Bank of Russia.
October 5, Bloomberg, citing its sources reported that the government is preparing a meeting of officials from President Vladimir Putin, which will discuss the issue of postponing the implementation of Basel III. According to the Agency, the head of VTB Andrey Kostin will lobby for the transfer via presidential aide Andrei Belousov.
Kostin has repeatedly expressed dissatisfaction with the Basel III. In September 2018, it estimated the potential losses to the economy due to the credit crunch in connection with the need to increase Bank capital to 4.5 trillion rubles.
Transfer requirements Pozdyshev explained the reluctance of the regulator to put pressure on the lending rates of the economy, the Central Bank recorded a slight revival in this area. Lending to the economy increased from the beginning of the year to 4.7 trillion rubles. Pozdyshev said that from the beginning of the year, banks issued to companies loans to 2.7 trillion rubles in loans, which means an increase of 5.5%.
However, Moody’s believes is justification for deferral incorrect. “According to our calculations, for 8 months of 2018 lending to the corporate sector grew by 2.9%, excluding the currency revaluation, which is close to inflation over the same period of time. This increase can hardly be called a revival of lending to the economy,” says Paklin.
According to him, real credit growth is low, and not constrained by the requirements of Basel III and other factors — low demand for loans from quality borrowers due to the reduction of investment programs, as well as the still high interest rates on loans to the real sector.
According to Moody’s, the most sensitive to rising capital requirements of systemically important banks are VTB and Gazprombank. However, these banks are quite capable to increase during the 2018 capital to meet the new standards, but it will happen at the expense of growth of assets and payment of dividends, according to the Agency.