The Central Bank establishes reserves for banks with a universal license and non-bank credit institutions in the amount of 2% - for liabilities to non-resident legal entities, liabilities to individuals and other liabilities in rubles and foreign currencies. For banks with a basic license, reserves of 2% are also set for liabilities to non-resident legal entities in rubles, as well as liabilities to non-resident legal entities, liabilities to individuals and other liabilities in foreign currency.

The new norms will be applied starting from the regulation of the amount of required reserves for February 2022.

The regulator noted that the implementation of this measure will lead to a decrease in the total amount of required reserves of credit institutions by about 2.7 trillion rubles, of which about 0.7 trillion rubles. - reduction of required reserves in the accounts for their accounting and about 2 trillion rubles. - reduction of averaged required reserves.

At the same time, the required reserves averaging ratio for banks with a universal license and banks with a basic license is set at 0.9, starting from the averaging period from March 9 to April 12, 2022.

At the same time, for the required reserve averaging period from February 9 to March 8, 2022, the Bank of Russia will not apply a penalty to credit institutions that have failed to comply with the required reserve averaging if the amount of the failure to comply with the required reserve averaging does not exceed 20% of the established amount subject to maintaining on correspondent accounts in the specified period, the regulator said.

Financial markets megaregulator