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1 to 6-day maturity and one-week auctions. 2 The Bank of Russia reserves the right to change the schedule of overnight deposit operations in individual

capital outflow and international reserves increment accordingly: capital outflow is expected to increase from $16 billion to $19 billion, while reserves will rise by $50

capital outflow and international reserves increment accordingly: capital outflow is expected to increase from $16 billion to $19 billion, while reserves will rise by $50

rates and the key rate narrowed during the February period of required reserves averaging. This resulted from the rising demand and shrinking supply of liquidity

Reserves Ratios BULLETIN (percent) STATISTICAL Required reserve ratio Required reserve ratio Required reserve ratio BANK OF RUSSIA Required reserve ratio Required reserve ratio Required reserve

have been settled, the Bank will become compliant with its individual required reserve ratios and capital adequacy buffers. The Bank is scheduled to merge with

495 771-91-00, +7 495 621-64-65 (fax) Website: www.cbr.ru All rights reserved. The views expressed in this Paper (these papers) are solely those of

No. 4297-U, Dated 22 February 2017, On the Procedure for Investing Insurance Reserve Funds, and the List of Assets Eligible for Investment’ (becomes effective 10

Reserves Ratios BULLETIN (percent) STATISTICAL Required reserve ratio Required reserve ratio Required reserve ratio BANK OF RUSSIA Required reserve ratio Required reserve ratio Required reserve

495 771-91-00, +7 495 621-64-65 (fax) Website: www.cbr.ru All rights reserved. The views expressed in this note are solely those of the authors