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 19 March 2020, given the fluctuations of exchange rates and financial asset prices observed in Russian and global financial markets as well as the actions taken by central banks of other countries.
In addition, in order to provide credit institutions with more opportunities to manage their liquidity and to maintain the conditions for interbank lending rates to form close to the key rate, the Bank of Russia will hold a fine-tuning deposit auction in the amount of 500 billion rubles today, on 19 March 2020.
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.
