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justifies the policy easing, but also in financial stability risks, which conversely requires policy tightening. However, while these risks remain minor, the ECB policy easing

pursuing the policies of limited new car registration as they attempt to address the issues of environmental protection and heavy traffic. These policies could encourage

unstable and structural deficit is likely to return in certain periods. That will depend on the fiscal policy and banks’ strategy in averaging required reserves.

capital market authorities of both countries and regular exchange of information on policy developments in the supervisory regimes of the Russian Federation and Lebanon in

on the macroeconomic situation in the country, Bank of Russia’s monetary policy, current trends in the development of the banking sector, financial markets and

threat to creditors’ and depositors’ interests. PJSC JSCB Novatsiya implemented high-risk lending policy linked to the placement of funds into low-quality assets. Adequate assessment of

63 2. MAIN INDICATORS AND INSTRUMENTS OF THE BANK OF RUSSIA MONETARY POLICY 2.1 The Bank of Russia Balance Sheet ...................................................................................................................................... 64 2.2 The

This will help raise the efficiency of operational framework of the monetary policy. Information on the schedule of ruble repo transactions is available on the

G., Igan, D., Laeven, L., Tong, H., Bakker, B., Vandenbussche, J., 2012. Policies for Macrofinancial Stability: How to Deal with Credit Booms. IMF Staff Discussion

of creditors and depositors. JSCB Bank Red Gates (JSC) conducted high-risk lending policy by placing funds in low-quality assets. A proper assessment of the risks