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Bank of Russia makes first statement after sanctions
The Bank of Russia states that it has all the necessary resources and tools to maintain financial stability and ensure the operational continuity of the financial sector. Also, the Central Bank will provide credit institutions with cash and non-cash liquidity in rubles.
“On Monday, the Fine-Tuning REPO Auction will be held on an unlimited basis, with all applications received from banks to be fully satisfied. To cover the prospective needs of banks in current liquidity, the Bank of Russia will significantly expand the Lombard List,” the Central Bank said in a statement.
The regulator assures that the Russian banking system is stable and has sufficient capital and liquidity to work under any circumstances, and clients need not worry about their funds on accounts that are safe and available at any time.
Banking services are also available in the ordinary and usual course, and the cards of all banks in Russia also continue to work normally.
The regulator also said that Apple pay, Google Pay, Samsung Pay contactless payment services work for cards of all banks, except for those under the most stringent sanctions – VTB, Sovcombank, Promsvyazbank, Novikombank, Otkritie.
Customers of other banks may also experience difficulties when paying at a POS-terminal (payment device) or online store serviced by one of the above-mentioned banks. In this case, the Central Bank recommends carrying a card in order to be able to pay without using pay-services.