Bank of Russia to increase required reserve ratios from June

Considering changes in the structural liquidity surplus and in order to maintain the downward trend in the share of foreign currency on credit institutions’ balance sheets, the Bank of Russia will increase the required reserve ratios from 1 June 2023 as follows:

— by 0.5 pp to 4.5% for all categories of reservable liabilities in the currency of the Russian Federation for banks with a universal licence and non-bank credit institutions;

— by 0.5 pp to 6% for all categories of reservable liabilities in foreign currency (excluding liabilities in currencies of unfriendly states) for all credit institutions;

— by 1 pp to 8.5% for all categories of reservable liabilities in currencies of unfriendly states for all credit institutions.

Required reserve ratios for all categories of reservable liabilities in the currency of the Russian Federation for banks with a basic licence remain unchanged.

The new required reserve ratios are to be applied from the regulation of required reserve amounts for June 2023.

According to required reserves averaging periods in 2023, the regulation of required reserve amounts for June 2023 does not involve the recalculation of the required reserves deposited in required reserves accounts. Higher required reserve ratios will result in an increase in the required reserve amount only due to their higher averaged value.

При использовании материала ссылка на Пресс-службу Банка России обязательна.