By © Reuters. FILE PHOTO: Andrea Enria, chairperson of the European Banking Authority, speaks at Reuters Summit interview in London, Britain, September 25, 2017. REUTERS/Afolabi Sotunde
FRANKFURT (Reuters) – Russia’s sanction-induced economic crisis is likely to cause credit to go unpaid but euro zone banks’ exposure to the country is contained, the European Central Bank’s top supervisor Andrea Enria said on Tuesday.
“Exposures of euro area banks to credit, securities and derivatives appear contained,” Enria said at an online event.
He added that even if banks walked away from their Russian subsidiaries the hit would be “manageable given the currently solid group capital position”.
Euro zone banks’ exposure to Russia is contained, ECB’s Enria
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