| Summary/Abstract |
External economic sanctions have created serious challenges to the stability
of Russia’s financial system. After the first emergency anti-crisis measures,
longer-term issues are coming to the fore. At this point, the main demand for
financial services is generated by the corporate sector. However companies
are seeing supply and value production chain disruptions. Uncertainty in
the business climate is fraught with systemic risks for both the budget and
the banking sectors of Russia. Overcoming them is a strategic goal of the
Russian government and the Central Bank. Both corporate and retail lending
risks have increased. The situation requires a reorganization of the financial
intermediaries in the bank loan and securities markets.
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