The Bank of Russia (the Central Bank) will provide domestic banks with cash and non-cash liquidity in rubles in order to maintain financial stability and protect the economy from the impact of the latest Ukraine-related Western sanctions, the regulator said in a statement on Sunday. “ The Bank of Russia will continuously provide banks with cash and non-cash liquidity in rubles. The REPO (repurchase agreement) auction on Monday will be held on an unlimited basis, with full satisfaction of all applications received from banks, ” the statement released by the press service of the Central Bank reads. The regulator added that it will also “ significantly expand ” its Lombard List, which includes the securities it is ready to accept as collateral for backing credit institutions’ refinancing operations, for “ maximum coverage of the possible needs of banks in current liquidity.” “ The Bank of Russia has the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector,” it said, adding that the country’s banking system is “stable, has sufficient capital and liquidity to function smoothly in any situation, ” funds held on bank accounts are safe, and banking services will be provided as usual.
The statement comes after a group of Western nations, including the EU, US, UK, and Canada, announced a package of sanctions targeting the Russian economy on Saturday, amid the ongoing Russian military operation in Ukraine. The measures include the freezing of assets held by the Russian Central Bank and cutting off an unspecified number of Russian financial institutions from the SWIFT international system of interbank transfers. The first measure aims to block Russia from using its reserve assets to tackle the impact of Western sanctions on its economy, the second – to sever the ability of Russian banks to conduct transactions internationally. According to the Central Bank, however, the transfer of financial messages within the country is provided by its domestic Financial Message Transfer System (SPFS), which does not depend on SWIFT. According to Russian state development corporation VEB.RF, the SPFS could be used for international transactions. The head of the State Duma Financial Market Committee, Anatoly Aksakov, said alternate ways also exist to keep international transactions working, for instance, using the economic infrastructure of friendly states. Some experts even claim that cutting ties with SWIFT could be a positive development for Russia, as it could propel the spread of the Russian ruble as an international currency. For more stories on economy & finance visit RT.com

nurudeen181:
The Bank of Russia (the Central Bank) will provide domestic banks
with cash and non-cash liquidity in rubles in order to maintain
financial stability and protect the economy from the impact of the
latest Ukraine-related Western sanctions, the regulator said in a
statement on Sunday.
“ The Bank of Russia will continuously provide banks with cash and
non-cash liquidity in rubles. The REPO (repurchase agreement)
auction on Monday will be held on an unlimited basis, with full
satisfaction of all applications received from banks, ” the statement
released by the press service of the Central Bank reads.
The regulator added that it will also “ significantly expand ” its
Lombard List, which includes the securities it is ready to accept as
collateral for backing credit institutions’ refinancing operations, for
“ maximum coverage of the possible needs of banks in current
liquidity.”
“ The Bank of Russia has the necessary resources and tools to
maintain financial stability and ensure the operational continuity of
the financial sector,” it said, adding that the country’s banking
system is “stable, has sufficient capital and liquidity to function
smoothly in any situation, ” funds held on bank accounts are safe,
and banking services will be provided as usual.

The statement comes after a group of Western nations, including
the EU, US, UK, and Canada, announced a package of sanctions
targeting the Russian economy on Saturday, amid the ongoing
Russian military operation in Ukraine.
The measures include the freezing of assets held by the Russian
Central Bank and cutting off an unspecified number of Russian
financial institutions from the SWIFT international system of
interbank transfers. The first measure aims to block Russia from
using its reserve assets to tackle the impact of Western sanctions
on its economy, the second – to sever the ability of Russian banks
to conduct transactions internationally.
According to the Central Bank, however, the transfer of financial
messages within the country is provided by its domestic Financial
Message Transfer System (SPFS), which does not depend on
SWIFT. According to Russian state development corporation
VEB.RF, the SPFS could be used for international transactions.
The head of the State Duma Financial Market Committee, Anatoly
Aksakov, said alternate ways also exist to keep international
transactions working, for instance, using the economic
infrastructure of friendly states. Some experts even claim that
cutting ties with SWIFT could be a positive development for Russia,
as it could propel the spread of the Russian ruble as an
international currency.
For more stories on economy & finance visit RT.com

hnnmm.. western media can make you craze

nurudeen181:

hnnmm.. western media can make you craze

And Eastern media can people dance.

Who uses Rubble or of what value is Rubble?