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Bank of Russia ready to provide systemically important banks with special loan facilities

September 25, 2015, 11:48 UTC+3
The regulator may provide systemically important banks with irrevocable loan facilities for the purposes of covering the shortage of highly liquid assets used in LCR calculations
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© TASS/Anton Novoderezhkin

MOSCOW, September 25. /TASS/. The Bank of Russia is ready to provide ten systemically important banks with special loan facilities to meet the liquidity coverage ratio (LCR), the press service of the regulator told TASS on Friday.

"The Bank of Russia may provide systemically important banks and credit institutions in their groups with irrevocable loan facilities secured by papers from the Lombard List of the Bank of Russia, gold and non-marketable assets for the purposes of covering the shortage of highly liquid assets used in LCR calculations," the Central Bank said.

Meanwhile, the regulator also confirms the timeframe on introduction of new statutory ratios for systemically import banks. Apart from the LCR that was postponed earlier and will be effective from January 1, 2016, the Bank of Russia also plans to introduce capital conservation buffer, countercyclical buffer and loss absorbency surcharge from January 1.

"All these buffers and surcharges are not part of mandatory ratios. In case they fall below the prescribed amount, the right of the credit institution to appropriate dividends and pay bonuses to the management will be limited but no enforcement action will be taken," the press service of the Bank of Russia said.

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