Cbank says mulls new measures to curb foreign currency crediting

MOSCOW, Apr 16 (PRIME) -- The central bank is considering putting additional restrictions on foreign currency loans by Russian banks, First Deputy Chairwoman Ksenia Yudayeva said on Monday at a banking forum.

“It is very important for us to prevent a new set of currency risks in the system, so we are now discussing the reasonability of additional measures to restrict foreign currency lending,” she said.

The regulator believes that the Russian currency market is stable, as ruble volatility did not exceed its previous records, she said.

The latest Western sanctions against local companies proved maturity and stability of the Russian financial market. “Volatility grew at the asset market, but it did not disrupt activity of the markets, it created no uncontrollable changes,” she said.

The policy of the floating rate and measures to develop financial infrastructure helped the market prevent external shocks from transforming into risks for financial stability, she said.

The regulator has a wide range of instruments that may stabilize the situation at the currency market if necessary, and the authority is ready to use it, Yudayeva added.

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