Russia's central bank announces financial market stability measures in light of recent financial market turmoil.
With turmoil in the financial markets over escalating tensions in the Ukraine, the Bank of Russia announced measures to maintain financial stability in a statement on Tuesday.
«The Bank of Russia is monitoring the developments in the financial market and is ready to take all necessary measures to maintain financial stability,» the central bank's press office said.
Stability Measures
Financial institutions can use the value of stocks and bonds as of February 18 to report the market value of their holdings, and remain in effect until October 1.
The same time frame applies to credit institutions, allowing them to calculate their required ratios based on foreign exchange rates as of the same effective date.
Keeping an Eye Out
The central bank is ready to implement additional measures in order to maintain financial stability, the statement said.
