Central bank eases structural liquidity ratio until end of 2022
MOSCOW, Apr 15 (PRIME) -- The Russian central bank has eased the structural liquidity norm for systemically important banks to boost their crediting abilities until December 31, the authority said in a statement on Friday.
"The Bank of Russia introduces relaxation for the structural liquidity ratio (net stable funding ratio) N28 (N29) to preserve the ability of systemically important credit institutions to lend to the economy in the face of changes in the structure and urgency of liabilities, as well as the blocking of certain assets. The term of the measure is until December 31, 2022 inclusive," the authority said.
The authority pledged incentives on the loans for the purchases of foreign assets in Russia by local companies.
The central bank also recommended that the banks and non-credit financial organizations abstain from dividends in 2022.