24 Jun 2024 17:54

Russian Central Bank intends to assess advisability of supporting brokers with liquidity during crises

MOSCOW. June 24 (Interfax) - The Central Bank of Russia (CBR) plans to assess going forward the advisability of providing liquidity to non-credit financial organizations (NFO) during periods of crises, particularly through repo transactions.

"The importance of NFO continued to grow during the 2022 crisis, while brokers periodically encountered difficulties in attracting liquidity," the regulator said regarding the need to analyze the matter in a report on anti-crisis measures that examines the actions of the CBR during crises in the financial market since 2008.

The 2022 crisis has been the most significant challenge to date, according the CBR's report. Along with the anti-crisis measures of the Russian government and the CBR, banks and NFO also played a major role in the recovery of the financial sector and the economy in 2022, adapting to the new conditions as quickly as possible owing to their stable financial position, according to the report.