The Central Bank said Monday that it might force leading banks to float their shares to strengthen their capital base, getting a mixed reception from analysts who said imposing market rules by diktat may not work.

The Central Bank wants banks with own capital exceeding 2.5 billion rubles ($90 million) to float no less than 10 percent of their shares on the Russian stock market, according to a strategy document published on its web site.

"We support proposals from the banking community that credit organizations with own capital exceeding 2.5 billion rubles should only be open joint-stock companies," the document said.

"At the same time, they should be obliged to place no less than 10 percent of their voting shares on Russian stock exchanges."

Russia's chief banking supervisor, Andrei Kozlov, said at a conference that there were 67 banks with own capital exceeding $90 million in Russia, of which 44 were already open joint-stock companies.

"Therefore, new measures will not be painful and will stimulate the circulation of shares of Russia's largest banks on the market," said Kozlov, who is also a deputy chairman of the Central Bank.

The draft document will be open for discussion for two months after publication and should eventually be submitted to the parliament for approval.

While international investors seek an entry into Russia's booming banking sector, shares of only a handful of Russia's 1,200 banks trade publicly, with state-controlled giant Sberbank dominating the market.

Banking analysts were divided over the proposed new measures. "I do not think it is sensible to get banks to float through such tough administrative means," said Julia Tseplyayeva, an analyst at ING Eurasia.

"I think it is a great idea," said Sergei Suverov, analyst at Gazprombank. "The influence of minority shareholders may force banks to boost their efficiency."

The Central Bank has long called on Russian banks to increase their capital base, eroded by rapid lending growth, by going public. Three major banks -- state-controlled Vneshtorgbank, Gazprombank and privately owned Rosbank -- have announced plans to list in Moscow and abroad.

However, outdated legislation, including a law requiring foreigners to ask for the Central Bank's permission to buy shares of Russian banks, is hindering the flotation process.

The Central Bank said it had put forward several proposals to facilitate initial public offerings in the banking sector.

It wants to ease the ownership restrictions on foreigners, and give banks more freedom to determine the price range of their IPOs in consultation with investors, rather than setting it before the book building process as is now required.

The Central Bank also said it may increase the share of real estate required in a bank's initial charter capital to 50 percent from the current 20 percent.