Bank of Russia increases required reserve ratios for banks’ foreign currency liabilities since May

As the situation in the financial market normalises gradually, the Bank of Russia, aiming to maintain the downward trend in the share of foreign currency on credit institutions’ balance sheets, raised the required reserve ratios to 4% for all categories of reservable foreign currency liabilities for both banks with a basic licence and banks with a universal licence. The new ratios are to be first applied to required reserve amounts for May 2022.

Other ratios remain unchanged.

According to required reserves averaging periods in 2022, the regulation of the amount of required reserves for May 2022 does not involve the recalculation of the required reserves deposited in required reserves accounts. Hence, as a result of the rise in the required ratios, the overall amount of required reserves will increase only due to the growth of their part that shall be maintained in correspondent accounts within the framework of the averaging mechanism, whereas the amount of required reserves in required reserves accounts will remain the same.

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29.04.2022 16.48.00