The Bank of Russia will increase the requirements for financial institutions in terms of the amount of required reserves

The Russian financial regulator raises the required reserves for banks. The updated rule will come into effect on March 1, 2023. The standards differ for ruble assets and currencies.

The required reserve ratio is raised to 4% in rubles for banks and non-bank credit institutions. At the same time, for all organizations, the same standard in foreign currency will rise to 7%.

A new trend has previously appeared on the Russian lending market, reported INFOX. Mortgage refusal rates approached 50%, the highest since 2017. At the beginning of last year, this value was 34%.