The risk of shortage of currency in Russia is low, said the Central Bank

© RIA Novosti / Natalia to Seliverstova in fotobanka the building of the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe risk of shortage of currency in Russia is low, said the Central Bank© RIA Novosti / Natalia to Seliverstova the image Bank

The peak of repayment of external corporate debt of Russia will come in December when the actual payment is expected at 15.7 billion dollars, however, the cumulative deficit of foreign currency liquidity from the largest banks for the fourth quarter will not exceed $ 1.65 billion, and the Central Bank assesses the risks of shortage of currency in the banking sector as low, said in the regulator’s «financial stability Review».

«The situation with monetary liquidity in September was less favourable on the background of the outflow of deposits in foreign currency of the major banks. However, the banking sector has sufficient foreign currency liquidity to cover expected redemptions of the liabilities in foreign currency…. Risks associated with possible lack of liquidity in the foreign currency remains at a low level», — stated in the document.

The regulator has conducted a survey of 23 of the largest banks, which reports that «the cumulative shortage of liquidity in foreign currency of banks in deficit during the fourth quarter of 2017, it is expected, will not exceed 1.65 billion dollars.» However, a number of major banks is expected surplus of foreign exchange liquidity, and the cumulative balance at the top 23 for the quarter to be positive ($1.1 billion).

«In previous years, the presence of such a deficit does not lead to the actual liquidity problems. Stock of liquid assets of banks in foreign currency as of October 1, 2017 $ 39.7 billion against 35,7 billion dollars a year ago», — the document says.

Negative impact on the situation with monetary liquidity in September had a local peak of repayment of external debt and, possibly, the purchase of foreign assets by Russian companies, said the Central Bank. This month the actual payments on the debt of the largest companies made $ 4.8 billion (excluding intercompany charges of the 30 largest borrowers in the foreign market), banks – $ 1.2 billion. «The next peak of maturity is in December (13.2 billion for companies and $ 2.5 billion for banks),» says the regulator.

Long-term factor influencing the situation with monetary liquidity in Russia’s banking sector is a gradual reduction in the volume of deposits in foreign currency, the report says. «During the second and third quarters of 2017, reduced the volume of deposits in foreign currency as physical (-1,1 billion) and legal persons (-3 billion),» reports of the Central Bank.

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