Today's day promises to be same way difficult for the markets, as well as yesterday's one. Tenders in Tokyo were opened with weakness of the main Japanese index Nikkei on more than 3 percent. The Chinese Hansen also went to "red zone" - on three and a half percent.
On Wednesday the European indexes lost from two to five percent. At tenders in New York papers of the leading world corporations fell on tens percent.
All attention is kept by the biggest on planet insurance company "American International Group" - banks which now suffer enormous losses use services of this very company. The government sent 85 billion dollars to help "AIG". Despite of it its shares lost almost half of their cost for one day. Position of investment corporation "Morgan Stanley" looks the same way tensely, its papers fell in price on 25 percent. After bankruptcy of the American company "Leman Brothers" many transactions at stock exchange are made under influence of emotions that makes situation on the market completely unpredictable.
Analytics say that meanwhile situation touched mainly investment banks, while the ones which were engaged in crediting of the population felt themselves more confidently. But it is clear that it is only postponed crisis - as soon as people will fail to serve their credits in mass order, ordinary banks would also go into a spin.
Bank of Russia and the Ministry of Finance announced the beginning of emergency measures on support of bank system. The Ministry of Finance named three "system-forming" banks which are entrusted to play a leading role in overcoming of crisis, - Sberbank, VTB and Gazprombank. For this purpose the Ministry will give them 1,12 billion roubles. Sberbank will get 754,2 billion roubles, VTB - 268,5 billion roubles and Gazprombank - 103,9 billion roubles.
Central Bank decided to repeat experience of 2004 when investors in the mass order got away money from banks and the market of interbank crediting was paralysed because of mistrust of its participants to each other. Regulator, as well as then, lowered requirements on obligatory reserves which banks kept on the accounts of Central Bank on 4% up to 1,5-4% depending on the one who gave money to the banks. It, according to Central Bank, will liberate about 300 billion roubles. Besides Central Bank is ready to finance banks under smaller pledges and give them every day up to 500 billion roubles.
Nevertheless, Central Bank of the Russian Federation composed "red list" which includes 15 banks which undergoes the most serious problems with performance of credit obligations to contractors and require urgent financial help. All 15 banks from the list enter TOP-50. That is situation with bank system in general and in Russia in particular is in critical condition.
