The Central Bank is watching the situation on the financial markets, said the first Deputy Chairman of the Central Bank Ksenia Yudaeva. It is therefore important to look at all sectors, in order to detect any possible “bubbles”.
MOSCOW, 8 APR. The Bank of Russia currently does not see a significant risk of “bubbles” in financial markets, monitoring the situation, said the first Deputy Chairman of the Central Bank Ksenia Yudaeva.
“Now we risk the “bubbles” do not see substantial, and we will continue to monitor the situation. “Bubbles” — such a thing, usually strive in a new place to appear, so it is important for us to look at all sectors, in time to catch these possible “bubbles”,” Yudaeva told journalists on the sidelines of the forum on financial stability.
However, she noted that the use of macroprudential measures by the Bank of Russia will depend on the sector of the financial market, in which there are risks of formation of “bubbles”.
“Everything will depend on the sector. For example, in retail lending may be limited to or loan to value (indicator of loan against value) or the ratio of debt to income… There are different tools, but basically, if we’re not talking about the credit cycle in General, …accordingly, these measures should be targeted to that specific market,” she explained.
It had said that in terms of structural surplus liquidity in the Russian Federation it is impossible to exclude the risk of formation of “bubbles” in certain markets, as has happened in the period up to 2011, when formed conditions contributed to the boom in consumer lending.
For the first time that in 2016, would transition from a structural liquidity deficit to structural surplus, said the head of the Central Bank Elvira Nabiullina in mid-March.