The Bank of Russia has announced the establishment of reserve requirements and ratios for calculating reservable liabilities for Russian credit institutions and foreign bank branches. The new regulation will take effect from August 1, 2025.
According to the central bank, required reserve ratios and required reserve averaging ratios for Russian credit institutions will remain at their current levels. For foreign bank branches, these ratios will be set at the amount specified for non-bank credit institutions.
Required reserve ratios have been defined as follows: 4.5% for all categories of liabilities in Russian rubles for banks with a universal licence, non-bank credit institutions, and foreign bank branches; 1% for all categories of liabilities in Russian rubles for banks with a basic licence; 6% for all categories of liabilities in currencies of friendly countries for all credit institutions and foreign bank branches; and 8.5% for all categories of liabilities in currencies of unfriendly countries for all credit institutions and foreign bank branches.
Required reserve averaging ratios are set at 0.9 for banks with a basic or universal licence, while non-bank credit institutions and foreign bank branches will have an averaging ratio of 1.
For transactions involving a credit institution that acts as a central counterparty, the ratios used to calculate required reserves are also maintained at current levels: 0.25 for liabilities in Russian rubles; 0.07 for liabilities in currencies of unfriendly countries; and 0.4 for other foreign currency liabilities.
Additionally, the adjustment factor used to calculate the amount of liabilities to other Russian resident credit institutions and foreign bank branches on issued debt securities—those excluded from reservable liabilities—remains unchanged at 0.2.
The Bank clarified that these new ratios will apply starting with the calculation of required reserves due in August 2025.
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