Logo
  Wednesday, October 23, 2019
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Russia's Finance Ministry said on Thursday that the liquidity situation
Russia's Finance Ministry said on Thursday that the liquidity situation was stabilizing and would improve, and that more banks could bid for budget funds the government has made temporarily available to further boost liquidity.

"I should say things are improving with regards to liquidity on the Russian market," said Pyotr Kazakevich, deputy head of the ministry's department for international finance, state debt and assets.

The Finance Ministry announced Thursday it would hold auctions on September 30 and October 1, offering banks up to 500 billion rubles ($20 billion) in temporarily available budget funds.

At its September 30 auction, the ministry will offer 200 billion rubles ($7.9 billion) for a term between October 1 and November 5 at a minimum rate of 8.25% per annum.

At its second auction, the Finance Ministry will offer up to 300 billion rubles ($11.9 billion) from October 2-9 at a minimum rate of 8% per annum.

Amid global financial troubles, Russian stocks plummeted on September 17 to their lowest levels in nearly three years, prompting trading to be suspended for two days on the RTS and MICEX exchanges.

The market rebounded on September 19 after the government took urgent measures to pump billions of dollars into the financial sector to shore up liquidity.

Analysts say problems with liquidity experienced by the Russian banking sector might prompt a wave of bank consolidation, and reduce the number of credit institutions in Russia by a third.


Print Russia's Finance Ministry said on Thursday that the liquidity situation Bookmark Russia's Finance Ministry said on Thursday that the liquidity situation

Related News   
AugSeptember 2008Oct
MoTuWeThFrSaSu
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345