Credit institutions’ compliance with open currency positions

In addition to its earlier decisions aimed at ensuring stability of the financial sector, the Bank of Russia temporarily eases the requirement for credit institutions to comply with the amounts (limits) of open currency positions to enable banks to adjust to the current situation more easily. 

The Bank of Russia will not apply measures to credit institutions if they fail to comply with the fixed limits relative to open currency positions in individual foreign currencies and precious metals; total amount of all open currency positions in foreign currencies and precious metals; and the balancing position in rubles provided the said failure is caused externally, and banks do not use the above easing for speculative purposes. The said measure is effective from 18 February to 1 July 2022.

Notably, the Bank of Russia will promptly monitor the amounts of open currency positions and reasons for changes in them to facilitate a smooth operation of the foreign exchange and money markets and to ensure financial stability of credit institutions.

The reference to the Press Service is mandatory if you intend to use this material.