All news

Bank of Russia has resources to maintain stability, ensure operation of financial system

The funds on accounts of clients in Russian banks are safe and available any moment, the Central Bank noted

MOSCOW, February 27. /TASS/. Russia’s Central Bank has all necessary resources and instruments to maintain financial stability and ensure uninterrupted operation of the financial sector, the regulator said in a press release on Sunday.

"The Bank of Russia has necessary resources and instruments for maintaining financial stability and ensuring uninterrupted operation of the financial sector. The Bank of Russia will provide cash and non-cash liquidity in rubles to banks without interruption. Fine-tuning repo auction will be conducted unlimitedly on Monday, with all requests from banks fully satisfied," the regulator said.

The funds on accounts of clients in Russian banks are safe and available any moment, the Central Bank noted.

"All funds of clients on accounts are safe and available any moment. Bank services are provided as normal. Bank cards of all banks on Russian territory continue operating as normal," the regulator said.

The Bank of Russia has announced a set of measures to support financial stability and uninterrupted operation of the financial system in recent days.

European Commission President Ursula von der Leyen said late on Saturday that the European Union together with the US, the UK and Canada intended to cut some Russian banks off the SWIFT interbank payments system, as well as freeze the assets of the Central Bank of Russia and impose a ban on the use of assets on the markets of countries supporting the measure, for businessmen.

Russian President Vladimir Putin said in a televised address on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation. The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories. When clarifying the developments unfolding, the Russian Defense Ministry reassured that Russian troops are not targeting Ukrainian cities, but are limited to surgically striking and incapacitating Ukrainian military infrastructure. There are no threats whatsoever to the civilian population.

Western countries responded to the actions of the Russian authorities by slapping sanctions, both personal and sectoral, particularly concerning Russia’s state debt and banking sector.