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24 Dec 2014
CBR introduces fresh measures to stabilize the RUB – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that the Russian Central Bank has introduced a new currency loan which would be backed by FX debt, to help stabilize the RUB.
Key Quotes
“Russia Central Bank introduced new currency loan backed by FX debt to help stabilize the RUB currency (Ruble); effective Jan 1st 2015. Banks with capital of minimum RUB100B may use the new instrument. The FX lending tool would be for 1-month and 12-months with minimum rate on loans of Libor +75bps.”
Key Quotes
“Russia Central Bank introduced new currency loan backed by FX debt to help stabilize the RUB currency (Ruble); effective Jan 1st 2015. Banks with capital of minimum RUB100B may use the new instrument. The FX lending tool would be for 1-month and 12-months with minimum rate on loans of Libor +75bps.”