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1301
01.09.2021
Russia Regulation No. 753-P, Dated 11 January 2021, ‘On Credit Institutions’ Required Reserves’ and on Cancelling Bank of Russia Order No. OD-134, Dated 24 January
1302
30.08.2021
a rapid growth of loans, as well as a partial release of reserves built at the peak of the COVID-19 pandemic. In the future, we
debt, $bn Reserves, $bn Developed countries Emerging countries Russia
800 140%
External debt/GDP 2020 = 31% 123%
700 Reserves/GDP 2020 = 39% 120%
Reserves cover
banks administering benchmarks: the FRS, ECB, Bank of England, Bank of Canada, Reserve Bank of
Australia, etc.
The Bank of Russia’s Statement discloses information
of banks» required reserves with the Bank of Russia -0.1 -0.1 0.0 -0.1
2. Change in free bank reserves (correspondent accounts
material has been prepared by the Research and Forecasting Department.
All rights reserved. The views expressed in this note are solely those of the authors
1307
17.08.2021
funds (NPFs) in 2021 H1 totalled 2.5%, and that of pension reserves — 1.2%.
At the same time, NPFs showed higher returns in Q2
RESERVE REQUIREMENTS Table 5
42
Averaging period to calculate a required Memo item: Actual average Required reserves to be
Averaging period Required reserves recorded
reserves
1309
17.08.2021
the US Fed, the European Central Bank, the Bank of Japan, the Reserve Bank of Australia and several other central banks.
The Bank of Russia
1310
17.08.2021
revision of the methodology governing the setting of benchmark interest rates in reserve currencies, and also the introduction of specialised regulation of the activities of