The financial crisis in Cyprus poses no systemic threat to the Russian banking system, a first deputy chairman of Russia's central bank, Alexei Simanovsky, said on Friday.
"I don't see any systemic or individual threat here," Simanovsky said, after the regulator conducted an "express-analysis" of links between Russian banks and Cyprus.
Cyprus's finance minister left Moscow empty-handed on Friday after Russia turned down appeals for aid, leaving the island to strike a bailout deal with the European Union before Tuesday or face the collapse of its financial system.
The Russian economy has a relatively low dependency on its banking system, with the ratio of total assets to gross domestic product ratio at 79.4% as of March 1, compared to over 100% in some developed countries.
After a proposed levy on bank deposits was rejected, Cypriot lawmakers are looking into other measures to raise at least part of 5.8 bln euros ($7.50 bln) required by the European Union as a condition for Cyprus to secure a 10 bln euro bailout.
Cypriot authorities are calling to impose capital controls to stem a flood of funds leaving the island when banks reopen, which they are expected to do on Tuesday after a week-long shutdown.
Ratings agency Fitch said on Thursday that Russian banks could face significant operational risks only if the crisis was prolonged and brokers and became reluctant to trade with Cyprus-based counterparts.
Russian banks do not see significant losses from the proposed levy.
Russian banks had $30-40 bln tied up in cross-border loans to Cypriot firms at the end of 2012 and some $12 bln on deposit with Cypriot banks, Moody's said earlier.
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