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Regulator calls companies’, citizens’ savings main source of Russian banks’ yuan assets

"Domestic savings of Russian companies and citizens may be the main source of funding of yuan assets of Russian banks," according to the review

MOSCOW, May 24. /TASS/. Domestic savings of Russian companies and citizens may be the main source of funding of Russian banks’ yuan assets, the Central Bank said in a review on financial stability.

"Due to exchange restrictions in China and the risks of secondary sanctions the banks of Mainland China cannot fulfill the functions of providers of yuan liquidity. Domestic savings of Russian companies and citizens may be the main source of funding of yuan assets of Russian banks," according to the review.

"Overall amid the current geopolitical conditions the level of foreign currency predominance in the Russian banking sector will most likely decrease," the regulator noted.

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Central Bank of Russia

Russian companies to receive help in setting up logistics with Asia and Africa — Kremlin

The Russian government must complete the task with the participation of the Russian Union of Industrialists and Entrepreneurs

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Moscow plans to give adequate response if US closes Russian visa centers

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Up to 100,000 people go missing in Russia every year, says official

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Seoul arms supplies to Ukraine depend on Russia-DPRK military cooperation — official

Seoul will lose its leverage over the Russian side in case Moscow hands over Pyongyang's military technologies, South Korea's national security adviser said

Tens of thousands of Ukrainians hiding from draft officers — NYT

Ukrainian men expressed fear of dying in the "bloody trench warfare", the newspaper reported

DPRK visit gets Moscow-Pyongyang relations to unprecedentedly high level — Putin

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Israel attacks facilities used by Hamas radicals in central Gaza Strip

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Moscow doctors arriving in Sevastopol — governor

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Ukraine to lose territories, NATO when all said and done — media

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Russian strikes turn Western hardware into scrap metal — KCNA

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Countries that recognize Palestine

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