Support The Moscow Times!

Excess Liquidity Ending

Russian lenders lack access to long-term financing, said Central Bank First Deputy Chairman Gennady Melikyan.

"We don't have the infrastructure that is used abroad to provide banks with long-term money," Melikyan said Friday at a conference in St. Petersburg. "The period when we had excess liquidity appears to be nearing the end."

The government and the economy at large are responsible for providing long-term funds to lenders, not the Central Bank, he said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.