Cbank to cut reserves against liabilities to foreigners by 0.25 pp

MOSCOW, Feb 12 (PRIME) -- Russia’s central bank will reduce mandatory reserves against ruble liabilities of banks with a general license and non-bank credit institutions to individuals and foreign companies by 0.25 percentage points to 4.75% from April 1, the regulator said in a statement on Tuesday.

The central bank will reduce the reserves by 0.25 percentage points for the banks with a basic license only against ruble liabilities to foreign companies.

The reduction is meant to compensate higher mandatory reserves that the banks will have to make from April 1 after the central bank included all long-term liabilities excluding subordinated instruments, liabilities to international financial organizations, and to state development bank VEB.RF into the list of reservable liabilities.

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