US expert: Russian banking system is more resilient than the West in the face of crisis
(Baonghean.vn) - Russian banks seem to be more resilient than Western banks when facing the crisis, journalist Kenneth Rapoza recently wrote an article in Forbes magazine.
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Central Bank of Russia. Photo: TASS |
"There is no banking crisis in Russia - unlike the recent events with Silicon Valley Bank in the US and Credit Suisse in Switzerland. The ruble is strong and there are no queues at banks," the author writes.
Rapoza attributes the stability of the Russian banking system to the direction of the Central Bank, headed by Elvira Nabiullina. He notes that the Central Bank of Russia has previously eliminated “weak links” in the banking system, thereby strengthening Russia’s financial position.
In addition, the columnist also quoted the opinion of famous investment expert Jim Rogers, who noted that the fall in the ruble exchange rate when sanctions were imposed on Russia was only temporary, and in the future the exchange rate of the Russian currency would increase.
“In this case, the market tells me that someone in Russia did something right,” Rogers said.
Previously, California state regulators closed Silicon Valley Bank, one of the 20 largest commercial banks in the US. This is the largest bank bankruptcy in the US since the 2008 financial crisis./.
