The Bank of Russia will continue the policy of tightening regulation on foreign currency loans. These measures will have a long-term beneficial effect, said the Head of the Regulator Elvira Nabiullina.
“As for regulatory tightening on foreign currency loans, we are pursuing this policy and will continue doing so,” Nabiullina said at the briefing on Friday.
“This will have a long-term beneficial effect on financial stability in general and the stability of the banking system,” she added. According to the Head of the Central Bank, the banking system will be less exposed to foreign exchange risks. “We consider this absolutely necessary in the current situation, which is quite difficult considering the external risks for Russia,” she noted.
Source: RIA Novosti/Prime