The liquidity crisis in the banking system, we have overcome locally, the President said ARB GA Tosunyan

On 22 December in a live program "Real Time" radio station "Finam FM". President of the BDA said that were put in place a very powerful tool - unsecured auctions, which allowed to repay the tension caused by the lack of liquidity in credit institutions. The huge infusion of funds was made, and in the promotion of the mortgage market, reducing social tensions. Now taking place measures to rehabilitation 13 banks - is tasked to do the DIA, the number of credit institutions by the Bank of Russia revoked the licenses. However, according to G. Tosunyan, in 2008 the number of banks, revoked the licenses will be less than in previous years - about 30 compared with 40 in 2007 and 50 in 2006. Talking about the problems of lending, G. Tosunyan noted that the money in the banking system is, but many banks are holding them, for fear of loan defaults. Credit 'thrombi did not resolve because of high initial interest rates determined by financial authorities. Thus, the Central Bank refinancing rate is 13%, while interest rates on unsecured auctions, starting with the 9% is reached 12-13%. Responding to questions from listeners on more funds available to banks and companies, G. Tosunyan said that they - return, the state money nobody gives as many people mistakenly believe. It is true that in other countries, the authorities give them a very small percentage. In the meantime, though money had been declared to, to the final consumer they have reached is not in its entirety. But the measures have taken to reassure the citizens, which had been taken away money from banks and convert them into currency or put "under the mattress." Now, however, there has been a reverse flow of deposits to deposits. G. Tosunyan critically treated the term "soft devaluation", comparing it with the expression "partial pregnancy." Ministry of Finance and Central Bank extend trading band, but it can not be considered a soft devaluation.