Russian banks' balances on correspondent accounts with the central bank went up to 609.3 billion rubles at the start of the business day on Thursday from 537.9 billion rubles on Wednesday, while deposit accounts fell to 293.7 billion rubles from 341.2 billion rubles.
Credit institutions' balances on correspondent accounts in the Moscow region rose to 434.5 billion rubles from 341.2 billion rubles, the central bank said.
The balances of commercial banks on correspondent accounts with the Bank of Russia are intended for current transactions in the economy and are used as freely available deposits at the central bank. Their sufficient level allows commercial banks to carry out transactions within an acceptable timeframe and with acceptable risks.
The Bank of Russia takes the funds of credit institutions on deposit to regulate banking liquidity.
MOSCOW, November 11 (RIA Novosti)
