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26 March 2020, 09:53

Belarus' central bank reveals new measures to support economy

An archive photo
An archive photo

MINSK, 26 March (BelTA) – The National Bank of Belarus will take additional measures to boost banks' capacities to bail out the real economic sector, BelTA learned from the Information and Public Relations Department of the National Bank.

Banks will be allowed to use the capital conservation buffer at 2.25 percentage points through 31 December 2020.

Some of the bailout measures can be applied to the classification of risk-bearing assets and to the formation of special reserves.

Special reserves to cover possible losses on risk-bearing assets and contingent liabilities denominated in foreign currency can be pooled in Belarusian rubles at the official exchange rate of the National Bank that was in place on 1 March 2020.

The National Bank will scrap the requirement for banks to perform a regular assessment of the quality and adequacy of pledges on assets bearing credit risk and contingent liabilities in foreign currency.

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