After the announcement of the mobilization, the Russians withdrew 458 billion rubles from their accounts
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The Central Bank of Russia (CB) published data (.pdf) on the development of the banking sector in September 2022. According to the regulator, the funds of the population decreased by 458 billion (-1.4%). The outflow was recorded in the second half of the month, after the announcement of partial mobilization on September 21.
“Public funds decreased in September by 458 billion rubles. (-1.4%), the outflow occurred in the second half of the month, when the number of people who left the country who took cash with them increased. In addition, citizens tend to withdraw cash in a situation of stress or uncertainty, as was the case, for example, at the beginning of the year, but then they usually return the money to banks, ”the Central Bank says.
At the same time, according to the regulator, the growth of household funds in escrow accounts accelerated to 2.6% – 101 billion rubles. Funds of legal entities increased by 2.3%, 0.9 trillion rubles. Foreign exchange balances have been declining for the fourth month in a row – by 3.6% (by $5 billion). Ruble balances grow by 3.9% (by 1.2 trillion rubles).
The head of the Banking Regulation and Analytics Department of the Bank of Russia, Alexander Danilov, called the result of the banking sector in the third quarter “quite good.” “Since September, due to well-known events, unfortunately, there has been an outflow of funds from individuals, moderate, but nevertheless … There is an outflow of funding in the region of 300 billion rubles. for the quarter, the funds of individuals, but it is covered to a large extent (there are more than 3 trillion rubles) by the funds of companies, so in general there are no problems with liquidity, ”said Mr. Danilov in Telegram channel Central Bank.
How partial mobilization affected the economy – in the material “Not worse, but more incomprehensible”.
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