Page 69 - RusRPTMay20

assessed the situation with foreign currency liquidity in the Russian market as calm, but in the case of growing demand for foreign currency, she promised to launch a foreign currency repo. So far, everything is going to ensure that the repo is no longer needed, analysts say.
“The demand for additional foreign currency liquidity, if it suddenly arises, can be satisfied by the currency swap that the Central Bank offers daily in the foreign exchange market. If necessary, the central bank will also be ready to use the already tested instruments, especially repo auctions in foreign currency, ”Nabiullina said at a press conference.
The surplus of the current account of the balance of payments of the Russian Federation in the first quarter turned out to be higher than expected - $ 21.7 billion, but in the coming quarters a lot will depend on oil prices and the state of global markets.
“Probably, in an emergency, the Central Bank will be ready to provide a foreign currency repo, but from the point of view of macro statistics, the situation with foreign currency liquidity is far from an emergency: if in 2014 the banks had a net investment position (foreign assets minus liabilities), then by the end of 2019 the banks were net lenders worth more than $ 80 billion, ”Dolgin said.
69​ RUSSIA Country Report​ May 2020 ​ ​www.intellinews.com