December 22, 2017 / 1:32 PM / a month ago

Russia c.bank: banks' bailouts boost rouble liquidity surplus in Dec

MOSCOW, Dec 22 (Reuters) - The Russian central bank has increased the liquidity surplus forecast for December as it bailed out the three major private lenders, the central bank said on Friday.

The central bank said it spent 456.2 billion roubles ($7.83 billion) in December on buying an extra issue of ordinary shares in Otkritie, once Russia’s largest private lender rescued in August.

Liquidity surplus in the banking sector also got a boost from the central bank’s decision to inject liquidity into B&N Bank, bailed-out in September, and Promsvyazbank, the 10th largest lender rescued by the central bank in mid-December.

In a monthly report on liquidity the central bank said it has increased the year-end liquidity surplus forecast to 2.2-2.6 trillion roubles ($37.7-$44.6 billion) from 1.8-2.3 trillion roubles expected earlier.

The central bank also said that non-residents reduced their holdings of the OFZ treasury bonds in November compared with October by around 10 billion roubles, or less than 0.5 percent of their overall holdings.

The central bank has said earlier that the bailouts would not lead to the increase in inflation as they were managed via a specially created rescue fund. ($1 = 58.3050 roubles) (Reporting by Andrey Ostroukh; editing by Katya Golubkova)

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