The Central Bank said that the regulator will support the stability of the financial sector of the Russian Federation with the necessary resources
Photo: Konstantin Kokoshkin / Kommersant
The Bank of Russia said that the regulator has all the necessary resources to maintain stability and ensure the operational continuity of the financial sector. It is reported by RIA Novosti with reference to the official appeal of the Central Bank.
It is noted that bank cards will continue to work as usual, and customer funds in their accounts will be available to them at any time. “The Russian banking system is stable, has sufficient capital and liquidity for uninterrupted functioning in any situation,” the Central Bank said.
The regulator intends to continuously provide banks with cash and non-cash liquidity in Russian currency. The address stressed that the transmission of financial messages within the Russian Federation in any scenario is provided by the Financial Message Transmission System (SPFS) of the Bank of Russia.
On February 24, the Central Bank announced support for the ruble. The Bank of Russia decided to start interventions in the foreign exchange market in order to stabilize the situation in the financial market.
