The Bank of Russia introduces a new method of financing for banks: they will be able to lend to the Central Bank against gold guarantees. The measure to provide banks with liquidity is being introduced amid rapid growth in precious metal prices and high investment demand due to market volatility. The Bank of Russia begins … Read moreThe Central Bank of the Russian Federation will lend to banks secured with gold
The resources of the Russian National Wealth Fund can be used to buy gold
Ruble sign on Russian coins
The Association of Russian Banks complained to the Central Bank about the shortage of investment coins made of precious metals. This is stated in an open letter sent on July 23 by the head of the Association Garegin Tosunyan to the head of the Central Bank of the Russian Federation Elvira Nabiullina.