Bank of Russia commentary on liquidity provision operations
The Bank of Russia considers the current liquidity position of the Russian banking sector to be sufficient for sustainable functioning of the Russian financial system.
At the same time, the Bank of Russia has decided to hold a fine-tuning repo auction in the amount of 500 billion rubles today, on 13 March 2020, given the fluctuations of exchange rates and financial asset prices in Russian and global financial markets as well as the actions taken by central banks of other countries over the course of this week.
The Bank of Russia maintains the limit on its FX swap operations to provide US dollars with the maturity date of ‘today’ at the increased level of 5 billion US dollars.
The Bank of Russia will continue to monitor the situation in Russian and global financial markets and will adjust the amounts of its liquidity provision and absorption operations accordingly.
