Russia’s Central Bank Announced Support Measures for Russian Banks

The Bank of Russia has allowed credit institutions to temporarily not reflect the negative revaluation of securities on their balance sheets so that this does not worsen their performance. The regulator has already applied similar measures in 2014 and 2020. 

Picture: RIA Novosti

Russian banks will be able to not recognize losses due to the depreciation of securities until October 1, 2022. The regulator decided to give such relief due to the current situation in the financial market.

“The Bank of Russia will monitor the development of the situation in the financial markets and is ready to implement additional measures to maintain financial stability,” the regulator said.

It is reported that credit institutions will be able to report the value of shares and bonds at market value as of February 18, 2022. On the same date, they can fix the exchange rates of foreign currencies when calculating mandatory banking standards, which will allow market participants not to reflect a negative revaluation of securities on their balance sheets, as well as not to fix a negative currency revaluation.

Ru-Main, 22.02.2022
Source: RBC 

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