IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jul 2019 | Removal date: open ended

Controls on credit operations

On 31 May 2019, the Bank of Russia decided to raise Russian banks' reserve requirements on foreign-currency-denominated liabilities to individuals by 1 percentage point, to 8%, effective 1 July 2019. Ruble-denominated liabilities require a reserve of 4.75% or 1% depending on the type of credit institution. 

According to the Bank press-release, the higher requirement is "to discourage growth of foreign currency-denominated liabilities in credit institutions’ liability structure.". Other required reserve ratios remain unchanged.

The decision follows the trend of increasing difference in reserve requirements between the ruble and foreign-currency-denominated liabilities, which started in April 2016. 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.