Moody's: National Reserve Bank view negative

Moody's Investors Service said it changed the outlook on the B2 long-term local and foreign-currency deposit ratings of National Reserve Bank to negative from stable.

At the same time, Moody's affirmed National Reserve Bank's E+ standalone bank financial strength rating with stable outlook and Not-Prime short-term bank deposit ratings.

Moody's said its decision to change the outlook on National Reserve Bank's long-term deposit ratings to negative from stable is driven by (a) the decline in the bank's regulatory capital adequacy ratio, due to an increase in loan-loss provision charges after the inspection conducted by the Central Bank of Russia; and (b) the decrease in the bank's deposit base during 2012.

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