Russia Takes $6.2 Billion Bite Out of Banks to Soak Up Cash

Updated on
  • Central bank raising requirements in rubles, foreign currency
  • Deficit spending amid recession resulting in liquidity excess

It’s been blamed for fighting inflation at the expense of the economy and turning its targets into “fetishes.” Now Russian lenders say the central bank’s latest swipe at price risks is putting pressure on their bottom line and credit.

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