MOSCOW (Reuters) - Russia’s central bank on Friday extended anti-crisis measures aimed at helping the banking sector weather turmoil on Russian financial markets late last year.
The central bank said in a statement it had discussed the extension with bankers earlier this week.
In December, it temporarily allowed banks to use third-quarter exchange rates to value their risk-weighted assets and not to create loan-loss provisions for credits to companies suffering because of sanctions over Ukraine.
Those regulatory relaxations were meant to last until July 1 this year. But on Friday the bank extended the relaxation relating to loan-loss provisions until Oct. 1, and introduced new exchange rates for valuation of banks’ risk-weighted assets.
The new exchange rates are less favourable for banks than the previous ones but still better than the current market rate.
It decided not to extend a moratorium on banks’ declaring losses on their securities portfolio in their accounts.
Reporting by Alexander Winning and Elena Fabrichnaya,; Editing by Jason Bush