April 02, 2014 14:02
Nabiullina: CB to provide banks with more liquidity due to foreign financing problems (Part 2)
MOSCOW. April 2 (Interfax) - Russia's Central Bank will expand liquidity provided to Russian banks due to problems with foreign financing, Central Bank Chairman Elvira Nabiullina said at an Association of Russian Banks (ARB) congress.
"We understand the influence our decision could have on increasing rates. We are going forward with implementing a new tool that will allow [us] to refinance banks' secured investment loans for a longer term. This is alongside expanding experimentation and broadening loan refinancing for small and medium business," she said.
Political risks are significant now, and they will be particularly relevant if Russian banks and companies encounter limitations for refinancing on western markets, Nabiullina said, adding that this is also true if rating outlooks are reviewed and changed, or if the ratings themselves change. "This could negatively reflect on financial stability," she said.
"We in the Central Bank are now looking at how we can react to this, including from the standpoint of providing liquidity if need be," Nabiullina said.
(Our editorial staff can be reached at firstname.lastname@example.org)
January 19, 2017
Russia political and economic calendar: January 19
January 18, 2017
French national relics exhibition planned to be held in Moscow shows highest level of confidence between countries - Shvydkoi
Russian-Turkish operation in Aleppo to prompt Syrian opposition to participate in Astana meeting - expert
Mobile system to prevent terror attacks developed in Belarus
Kyiv refuses to swap five ex-Berkut special-forces officers for Ukrainians captured in Donbas
Russian, UN diplomats discuss Syria, upcoming Astana meeting
Russian-Turkish air operation in Syria becomes first-ever example of non-bloc cooperation - Klintsevich
Tajik army's chief of general staff killed in road accident - source (Part 2)
Putin, Merkel, Hollande discuss Minsk Agreements implementation, aren't satisfied with overall situation in Ukrainian crisis settlement
Tajik army's chief of general staff killed in road accident - source
Ruble up against dollar, euro on demand for liquidity
Putin informs Merkel, Hollande on Syrian truce, Astana meeting
Poroshenko reminds EU Commissioners Dombrovskis, Mogherini about EU granting Ukraine visa-free regime