According to the Central Bank of Russia's review of the banking…
According to the Central Bank of Russia's review of the banking sector, legal entities' funds in Russian banks rose significantly by 2.9% (1.8 trillion rubles) in May, following weak dynamics in April (+0.3%) associated with the payment of quarterly taxes.
Consensus
- Russian banks faced a liquidity shortfall of nearly 2 trillion rubles by mid-June.
- The banking system remains stable despite the shortfall.
- There was an increase in cash usage by citizens and businesses.
Points of divergence
- The liquidity shortfall was caused by multiple factors including internet outages, stricter transfer controls, falling deposit rates, and tax changes that made cash transactions more favorable for businesses. — vesti
- Corporate deposits rose significantly in May due to exporters benefiting from higher oil prices and government contractors, while personal deposits fell due to advance social payments and holiday spending. — interfax
- The Bank of Russia revised its 2026 structural liquidity deficit forecast to between 2.4 and 3.6 trillion rubles. — vesti
- The Bank of Russia noted a decrease in government funds in banks in May, possibly due to budget disbursements to contractors. — interfax
Coverage (5 sources)
- Russian banks lose trillions in free funds, according to Izvestia — Вести
- Russians withdrew 500 billion rubles from banks in May — Вести
- Legal entities' funds in Russian banks rose by a significant 2.9% in May — Интерфакс
- Russian banks slowed corporate loan growth to 1.2% in May — Интерфакс
- Russian banks' net profit in May rose 4% month-on-month to 362 billion rubles — Интерфакс