Central Bank introduces changes to the standards of mandatory reserves of banks

The Central Bank made changes to the standards of mandatory reserves of banks deposited with the CB. The changes will take effect on July 1, the regulator's website reports.

Now, the standards for mandatory reserves for deposits in national currency are set at 4%, in foreign currency at 14%.

In addition, the averaging coefficient was set at 0.25 to the standard volume of required reserves. The average daily balance of correspondent accounts of banks for the period of storage should be no less than 25% of the volume of required reserves, which in turn should allow them to effectively manage liquidity.

The last time standards were changed in August 2018, when the required reserves began to be stored only in national currency. Before that changes were introduced in May.

Both of them were aimed at reducing the level of dollarization in the economy and increasing the attractiveness of deposits in national currency.