The Central Bank has stated there are no plans to transfer foreign currency deposits in rubles :: Finance :: RBC

According to Elvira Nabiullina, the forced conversion of foreign currency deposits could undermine confidence in the banking system, but because CB does not have “even thought on this subject”

Elvira Nabiullina

(Photo: Vladislav Shatilo / RBC)

The Central Bank shall take into account the possibility that the new package of sanctions against the financial sector, the US government will impose a de facto ban on the use of Russian banks in dollars, has declared on a press-conferences the head of Bank of Russia Elvira Nabiullina.

According to her, the regulator has already prepared together with the major commercial banks system of measures that will enable the bankers to fulfill their obligations to customers. On the forced conversion of the sums lying on dollar deposits, into another currency, including in roubles, not a speech, assured the head of the Central Bank.

“No threats for foreign currency deposits does not see any action for the forced conversion, we do not consider, we even thought there is on this topic. We believe that these measures can only undermine confidence in the banking system”, — said Nabiullina.

According to the Bank, the amount of foreign currency clients ‘ funds in Russian banks, denominated in U.S. dollars, for the first half decreased from $258 billion to $248,5 billion, including deposits of natural persons — $92,8 billion to $87,4 billion.

Kostin told about the fate of dollar-denominated deposits in case of extension of sanctions


On 12 September, the head of VTB Andrey Kostin, speaking about the fate of dollar-denominated deposits in the case of the introduction of new US sanctions, said that their money currency investors to be able. “How it will be done, in what currency — is another question,” — said the head of VTB.

Later, the press Secretary of the President of Russia Dmitry Peskov said that the Kremlin the issue of forced conversion of dollar deposits is not discussed.

“No, this is not part of the administration [of President], this is not, as far as I know, anywhere else,” said Sands.

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