The Central Bank will allow credit institutions to withdraw funds from deposits ahead of schedule
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From March 4, the Bank of Russia will allow credit institutions to return funds from their deposits with the Central Bank ahead of schedule. IN message The regulator said that the new measure will allow them to manage their own liquidity more flexibly.
“To do this, the credit institution needs to conclude an additional agreement with the Bank of Russia to the agreement on the general conditions for conducting deposit operations in accordance with the updated conditions for conducting deposit operations by the Bank of Russia,” says the Central Bank’s material.
As the regulator explained, interest equal to the rate on deposit operations will be charged on the deposit amount returned ahead of schedule. The income of credit institutions will be the same as if the early repaid amount had been placed in overnight deposits during the corresponding period.
About the growth in the share of bank deposits in yuan – in the material of Kommersant FM “Deposits have reached towards the yuan”.
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