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In the second half of 2015, all the risks of destabilization of global financial markets increased to the maximum, while in Russia they are concentrated in the banking sector – these are the main conclusions of a new "Financial Stability Review" of the Bank of Russia, according to Russian newspaper Kommersant.
The Central Bank in its review for the first time publicly discusses the hypothesis of "the completion of super cycle" in commodity prices – the collapse of oil prices in November 2015. The Bank of Russia is not ready to consider it as deliberately casual and temporary and refuses to work on "stress scenario" of economic development: it is considered to have come true.
Read alsoCollapse in oil prices threatens to drag Russian economy down to lower depthsEarlier, the Ministry of Finance spoke of the need to prepare the scenario calculations and economic strategy for the situation with the fall in oil prices below $30 and, in short term, below $20 a barrel. It seems that the Central Bank's position will support these plans in the Kremlin.