Impact of digital ruble on banks and their customers: analytical note
26 January 2021
News
The introduction of a digital ruble should not make it difficult for banks to receive funding, as the Bank of Russia will provide them with necessary refinancing. Amid competition between banks and unchanging money market interest rates, loans are not expected to become more expensive.
At the same time, when a digital ruble is introduced, banks’ interest income will be partially redistributed in favour of their customers. These are the conclusions of the authors of the analytical note ‘What changes will a digital ruble bring to banks and their customers’, published by the Research and Forecasting Department on the Bank of Russia website.
Preview photo: Irina Anosova / Shutterstock / Fotodom