February 12, 2019 / 8:27 AM / 6 months ago

Russia's c.bank to reduce some mandatory provisions for banks from April 1

MOSCOW, Feb 12 (Reuters) - The Russian central bank said on Tuesday it will reduce some mandatory provisions for domestic banks from April 1, in particular obligations lenders have to non-resident companies and individuals with Russian rouble accounts.

Since 2014, the central bank is trying to encourage the banking sector to issue fewer foreign exchange loans and take fewer forex deposits, aiming to prevent possible rouble exchange rate volatility.

Reporting by Katya Golubkova; Editing by Catherine Evans

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