- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

CBR could raise overseas capital reserve requirement

Subscribe
ST. PETERSBURG, June 8 (RIA Novosti) - Russia's Central Bank could raise commercial banks' obligatory reserve requirements for overseas capital to control capital movements, the CBR chairman said Thursday.

From July 1, Russia's monetary authorities are lifting reserve requirements for foreign currency transactions in a move to ensure the country's smooth transition to forex operations with no restrictions and make the ruble fully convertible.

Sergei Ignatyev said banks' obligatory reserve requirement was 3.5% for household and corporate deposits and 2% for overseas funds.

"We could discuss the issue of leveling out these requirements to make banks less interested in attracting funds from abroad," Ignatyev said.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала