Russia Faced With 'Massive' Liquidity Problem Says Sberbank Chief | News | The Moscow Times:
"The head of Sberbank, Russia's largest lender, said Thursday that the banking sector was grappling with huge liquidity problems and warned that there was no easy money for Russian companies to be found in Asia, the Prime economic news agency reported.
"We have a massive, grand liquidity dislocation and already 13 percent of banking sector funding is "short" money from the Central Bank," German Gref told a conference in Moscow. The Central Bank offers short-term loans to financial institutions as part of its monetary policy.
Gref added that the liquidity problems were making it much harder, if not impossible, for banks to fund long-term projects, particularly those relating to infrastructure and transport."
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