Central bank takes additional steps to secure stable operation of Belarusian banks
12:37, 11 March
The National Bank of the Republic of Belarus has implemented additional temporary measures in order to enhance the ability of commercial banks to continue providing financial support to the real sector of the economy, BelTA has learned
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The measures will stay in effect till 31 December 2022. In particular, Belarusian banks no longer have to take into account differences in currency exchange rates after 1 February 2022 as they classify credit risk assets and contingent liabilities and form special reserves. For the sake of evaluating the sufficiency of foreign currency revenues of a borrower Belarusian banks can include Russian rubles and Chinese yuans into revenues regardless of the credit debt currency. In order to calculate the adequacy of the regulatory capital Belarusian banks can reduce the degree of risk on previously issued loans with interest rates exceeding the calculated standard risk from 500% to 100%.
Apart from that, Belarusian banks are advised to prioritize adding profits of 2019-2021 and undistributed profits of past years to their reserve fund and charter capital without paying dividends to shareholders.
The NBRB press service explained the measures are designed to ensure the stable operation of commercial banks, non-bank credit and finance organizations, and the public joint-stock company (OAO) Development Bank of the Republic of Belarus considering the ongoing negative influence of external factors.
