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Russian Central Bank Extends Anti-Crisis Measures for Banks

A chain is seen wrapped around a road sign for parking, with the coat of arms of the Central Bank seen on it, near the headquarters of the bank in central Moscow. Sergei Karpukhin / Reuters

Russia's Central Bank on Friday extended anti-crisis measures aimed at helping the banking sector weather turmoil on Russian financial markets late last year.

The Central Bank said in a statement it had discussed the extension with bankers earlier this week.

In December, it temporarily allowed banks to use third-quarter exchange rates to value their risk-weighted assets and not to create loan-loss provisions for credits to companies suffering because of sanctions over Ukraine.

Those regulatory relaxations were meant to last until July 1 this year. But on Friday the bank extended the relaxation relating to loan-loss provisions until Oct. 1, and introduced new exchange rates for valuation of banks' risk-weighted assets.

The new exchange rates are less favorable for banks than the previous ones but still better than the current market rate.

It decided not to extend a moratorium on banks' declaring losses on their securities portfolio in their accounts.

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