VTB CEO says Russian banks are ready to restructure some Russian Railways debt

MOSCOW, Dec 1 (Reuters) - Russian banks are ready to restructure some Russian Railways debt as long as the central bank does not increase reserve requirements for these loans, VTB CEO Andrei Kostin told Reuters in an interview.

Russia's government is discussing different ways to prop up Russian Railways, the country's biggest commercial employer, which has built up a 4 trillion rouble ($50.8 billion) debt pile, Reuters reported on Nov. 25.

VTB, Russia's second largest bank, is Russian Railways' biggest creditor, and the bank's top managers are taking part in weekly discussions in the government on how to deal with the debt. Central bank officials are also participating in these meetings.

"Banks are ready to restructure loans and defer payments, provided that the central bank does not increase reserve requirements for these loans," Kostin said.