MOSCOW, March 18. /TASS/. Russia’s banking system is operating smoothly, while the situation with liquidity has stabilized, Central Bank Governor Elvira Nabiullina said in a statement following the regulator’s board meeting on Friday.
"What do we have today? The banking system is operating smoothly. The liquidity situation has stabilized. We provide liquidity to banks in the amounts they need. At the peak, the funds provided reached ten trillion rubles," she said.
The structural liquidity deficit that arose in early March and totaled seven trillion rubles, has decreased more than twofold by now, according to Nabiullina.
"At the end of February, we raised the key rate primarily to counteract financial stability risks in the conditions of the new unprecedented sanctions. We have also implemented other measures to stabilize the situation," the statement said.
Earlier on Friday the Bank of Russia decided to keep the key rate at 20% per annum after sharply raising it from 9.5% on February 28.