Russia Offers Dollar Loans to Aid Banks Before Debt Payments
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Russia’s central bank is seeking to make it easier to get foreign-currency refinancing as $120 billion of debt payments loom next year after the ruble’s collapse.
The Bank of Russia will offer banks four-week and one-year funding in dollars and euros, backed by foreign-currency loans to large exporters, according to a statement today. The instrument will be available to banks with equity of at least 100 billion rubles ($1.8 billion) until 2018.