10 Nov 2022 14:28

CBR not prepared to scrap reserve requirements for banks - Nabiullina

MOSCOW. Nov 10 (Interfax) - The Central Bank of Russia is not prepared to scrap reserve requirements for banks, Central Bank Governor Elvira Nabiullina said.

"I haven't seen this proposal yet, but we aren't ready to go for it," Nabiullina told reporters on the sidelines of the Finopolis forum.

Sberbank has asked the Central Bank to think about abolishing reserve requirements, the Vedomosti newspaper reported, citing Sberbank proposals for draft 2023-2025 monetary policy guidelines. The regulator's intentions raise required reserves could make the problems faced by the banking system worse, the paper said, referring to Sberbank's stance on the matter.