(Finance) – The Bank of Russia he decided to reduce the mandatory reserve ratios of banks starting from March 3, 2022 for release more money to customers and businesses at a time when the economy is hit by Western sanctions. The implementation of this measure will lead to a decrease in the total amount of reserve requirements of credit institutions by approximately 2.7 trillion rublesof which about 0.7 trillion rubles will be a decrease in compulsory reserves in their accounts, and about 2 trillion rubles will be a decrease in average compulsory reserves.
In particular, the reserve ratios must be 2% on the liabilities towards non-resident legal persons (including long-term), liabilities to individuals and other liabilities (including long-term ones) in rubles and in foreign currency. The other required reserve ratios remain unchanged.