11 Dec 2009 16:26

Relaxed provisioning terms for Russian banks extended by six months

MOSCOW. Dec 10 (Interfax) - Directors at the Central Bank of Russia Friday decided to extend relaxed terms for loan provisioning by commercial banks by six months, until June 30, 2010, a CB official said.

The CB will be asking the Justice Ministry to endorse the decision soon, Mikhail Sukhov, director of the CB's Department for Licensing and Financial Recovery, said at an M&A forum.

The reserve requirements were relaxed for a period of 12 months on January 1, 2009.