Governor of the Russian Central Bank: Russia's domestic financial infrastructure will "operate continuously"

2022-03-01

Nabiulina, President of the Central Bank of Russia, said on the 28th that Russia's domestic financial infrastructure will "operate continuously". According to the website of the Russian central bank, nabiulina issued a statement after the board meeting of the Russian central bank that day, saying that Russia's continuous development of domestic financial infrastructure can ensure its "uninterrupted operation". Russia has developed a financial information transmission system (SPFS system) that can replace the global Interbank Financial Communication Association (Swift) payment system in China, and overseas participants can also connect to the SPFS system. At present, the national payment card system can normally handle payment card transactions in Russia, and the international payment system cards issued by sanctioned banks can also be used normally in Russia. Nabiulina said that the Central Bank of Russia will take all necessary measures to maintain financial and price stability and will use all necessary tools flexibly. In addition, the Russian central bank is taking a series of measures to limit the export of non resident capital, such as suspending securities dealers from accepting the entrustment of foreign investors to sell Russian securities. Earlier in the day, the Russian Central Bank announced that it would raise the benchmark interest rate to 20%. The central bank said in a statement that the external conditions facing the Russian economy have changed dramatically. Raising the benchmark interest rate can ensure the level of deposit interest rate, deal with the risk of devaluation and inflation of the local currency, maintain financial and price stability and protect people's savings. The United States and other western countries issued a joint statement on the 26th, excluding some Russian banks from the swift payment system and imposing restrictive measures on the Russian central bank to prevent its allocation of international reserves from weakening the impact of sanctions. (Xinhua News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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