U.S. Markets closed

Russian banks' exposure to Ukraine 'insignificant': central bank

MOSCOW (Reuters) - The exposure of Russian banks to Ukraine is "highly insignificant" and amounts to less than 1 percent of their assets, Russia's central bank said on Monday.

Russia's banking sector is owed a total of $11 billion by Ukrainian residents, and owes them $1.3 billion, the Bank of Russia said in emailed comments in response to questions from Reuters.

"The interconnections between our financial systems does not raise the slightest concern," it said. "From the point of view of our banking sector this is a highly insignificant volume of money owed that amounts to less than 1 percent of its assets."

(Reporting by Oksana Kobzeva; Writing by Douglas Busvine)