MOSCOW, June 11 (RIA Novosti) - The Central Bank of Russia is bringing down compulsory reserve norms and refunding rates, as of June 15, its Directors' Board determined today, bank PR say in a press release.
The compulsory reserve norm is going down to 7%, as against 9% of April 1 into June 14, for borrowed corporate funds in Russian currency, and foreign currency borrowed corporate and private funds.
The compulsory reserve norm for private rouble deposits stays at 7% as since January 1, 2000.
The refunding rate goes down to an annual 13%, as against 14% of January 15 into June 14.
