MRV Associates is dedicated to providing clients high quality financial consulting, research, and training services on Basel III, Dodd-Frank, risk management, risk based supervision, capital markets, and financial derivatives. MRV Associates has extensive global experience and has led successful projects in the financial and energy sectors in over twenty countries in English, Russian, and Spanish.
Mayra Rodríguez Valladares is Managing Principal of MRV Associates. She is a graduate of Harvard and Radcliffe Colleges, The Wharton School, and The Lauder Institute of the University of Pennsylvania. She was also a Raoul Wallenberg Fellow at The Hebrew University of Jerusalem. She is a highly motivated business professional, who has twenty five years of financial regulatory and capital, foreign exchange, and energy markets experience at the Federal Reserve Bank of New York, JP Morgan, BTAlex.Brown, and as a financial consultant and trainer. She has published over 200 articles in publications such as American Banker, Bloomberg’s Financial Regulatory Brief, Forbes, The Hill, The New York Times, Russian Petroleum, and World Oil.
The banks have known for a while that this day was coming; they got so beat up during the financial crisis, and all these non-banks didn’t have the same regulations to comply with. From 2008 to now, there has been unbelievable, explosive growth by all these non-banks, and what that means is banks now have to be leaner and meaner.
Cost structures and non-bank competition are at least partially to blame. But it's complicated.
Lowering reserves for Russian banks is a clear sign that Russian banks’ liquidity is decreasing. I am not counting on all Russian banks being open for business by the end of the week.
Putin's war is bringing the Russian economy to its knees. Part of his ruthless legacy will be that of leaving a rubble of an economy.