High Russian official: The second wave of the crisis will hit us in autumn. 50 credit institutions will lose their license

The Russian Agency deposits insurance (ABC) general manager Aleksandr Turbanov made a worrying statement: a second wave of the crisis might hit again this autumn, because of the credited companies. Turbanov believes that, by the end of the year, around 50 or 60 crediting companies will lose their license.

MDM-bank president Oleg Viughin replicated in RBK Daily by saying that if the government and the Central Bank are not going to employ an efficient capital growth mechanism for these institutions, there will be a supplementary liquidity request this autumn.

„If the Central Bank starts injecting liquidities in banks, including in the ones in big trouble, it will have to take on additional risks, which is not favourable for the banking system”, Viughin said. He believes that 1 to t.5 trillion roubles will be sufficient for this operation.