Central bank says banking liquidity surplus eases in June

MOSCOW, Jul 17 (PRIME) -- Structural liquidity surplus at Russian banks fell slightly in June, the central bank said in a report published on Tuesday.

Some banks raised the balance on correspondent accounts with the central bank and reduced deposits. These operations exceeded money inflow stemming from liquidity offer growth. Besides, the vacation season raised the amount of cash in circulation.

The situation with foreign currency liquidity deteriorated slightly but remained stable. “A certain decline of liquid foreign currency assets of banks was caused by a seasonally low inflow on the current balance of payments, a high level of foreign currency purchases by the Finance Ministry, and lower investment by non-residents in the OFZ bonds.”

The central bank has retained its forecast for liquidity surplus of the banking sector at the end of 2018 at 3.8–4.2 trillion rubles.

(62.2556 rubles – U.S. $1)

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