NBB stops providing commercial banks with ruble resources in exchange for forex
MINSK. June 27 (Interfax) - The National Bank of Belarus (NBB), as part of its obligations to EurAsEC's (Eurasian Economic Community )Anticrisis Fund, has stopped providing commercial banks ruble resources in exchange for forex (swaps, deposit exchanges and so forth), the chairperson of Belarusbank, the country's leading bank, Nadezhda Yermakova told Interfax.
"The National Bank earlier provided ruble resources to banks. Now, according to the requirements of the EurAsEC Anticrisis Fund, these transactions have been suspended," she said.
Yermakova also said that, in order to reduce pressures on the local currency market, the NBB has tightly limited its offering of loans to state banks while also significantly boosting their value. "There isn't enough ruble liquidity