MOSCOW, February 4 (RIA Novosti) - Russia's
government plans to work with bank shareholders to step up
support for the banking sector amid the ongoing financial
crisis, First Deputy Prime Minister Igor Shuvalov said on
Wednesday.
Shuvalov said the government could give subsidized loans
to banks equivalent to 15% of their capital on condition that
shareholders provide a similar amount of money, and repeat the
move later.
"We can increase banks' capital by up to 60% of their
current levels through joint action by private shareholders and
the state," Shuvalov was quoted as saying at an investment
forum.
Shuvalov said not all shareholders would be able to raise
the money, and only 50 of 1,200 banks could afford to use the
scheme.
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