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Medvedev Holds Meeting On Russia's Troubled Banking Sector

Russian Prime Minister Dmitry Medvedev has met with senior government and banking officials to discuss measures aimed at supporting Russia’s troubled banking sector.

"The banking sector was one of the first to face the consequences of economic sanctions and the related problems that exist in the global financial system," Medvedev told the February 8 meeting. "However, in general, it continues to work steadily and to develop. Assets, capital, and loans to the economy are growing."

The agenda of the meeting included measures aimed at supporting Russia’s mortgage housing loan market, such as the possible restructuring of loans that were issued in foreign currencies.

On February 6, Medvedev told a congress of the United Russia party he leads that he supports proposals on extending a mortgage subsidization program.

In January, Economic Development Minister Aleksei Ulyukayev said Russia should consider selling state banking assets in order to offset the falling global price of oil, which has battered the economy and sent the country into recession.

Based on reporting by TASS and Interfax