MOSCOW, November 10 (RIA Novosti) - As of November 1 2005, debt refinancing provided by Russia's Central Bank to commercial banks aggregated $2.77 billion, the CBR Chairman said Thursday.
Sergei Ignatyev, speaking at a Banking Committee meeting in the State Duma, Russia's lower house of parliament, said the rise in the level of refinancing is the result of the greater number of refinancing instruments now available.
During the past year, the CBR has broadened the list of assets that can be used as collateral for commercial banks' loans from the Bank, Ignatyev said.
"In the next few years, and in the future, the Central Bank will aim to develop additional mechanisms for refinancing," he said.
