Central bank promises to intervene if banks misuse support

MOSCOW, Apr 7 (PRIME) -- The central bank is monitoring interactions of banks with their clients during the pandemic and will intervene if the banks use the support measures for wrong purposes, Chairwoman Elvira Nabiullina told reporters on Tuesday.

"We are monitoring interactions of banks with their clients in this tough period. We are cooperating with the banks to help them meet their clients halfway in restructuring and to not reduce lending," she said.

"The Central Bank of Russia eased its regulations, whose priority is support of people and companies, to help them weather the period of restrictions. If we see that banks do not share the position, we will react, including with regulatory steps."

Alfa-Bank said on Monday that it limited lending to the employees in the industries most affected by the crisis.

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