BOFIT Discussion Papers, Institute for Economies in Transition, Bank of Finland
Structural features and interest-rate dynamics of Russia’s interbank lending market
() and Olga Kovalenko
Abstract: Russian banks exhibit a range of behaviors that have led
to distinct segmentation within the interbank lending market. This paper
provides an overview of the core groups of banks operating in the market
(state banks, private banks, and foreign-owned banks), as well as a
discussion of their assets and liability structures. The 2007–2010
financial crisis had considerable impact on the Russian financial sector.
As conditions deteriorated and recovered in global money markets, Russian
banks adjusted their behavior with respect to other domestic banks and
foreign banks. We conduct a comparative analysis of the Russian interbank
lending market structure in the pre-crisis period and during recovery to
reveal the tactical shifts in the various bank groups.
Keywords: interbank markets; Russia; interest rates; (follow links to similar papers)
JEL-Codes: C22; E43; E44; (follow links to similar papers)
42 pages, August 28, 2013
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