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. Last Updated: 07/27/2016

Central Bank Says It Will Aid Lenders

Domestic banks, which must repay $50 billion to foreign lenders by the beginning of next year, can count on the Central Bank for financial support, the Central Bank's deputy chairman, Alexei Ulyukayev, said in an interview published Tuesday in Rossiiskaya Gazeta.

Banks will seek to attract more money domestically and can count on the Central Bank as the "lender of last resort," Ulyukayev said.

"Our economy will not be left without money for development even if banks will be unable to get loans on international markets," he said. "The Central Bank can guarantee this."

The Central Bank was injecting more than 270 billion rubles ($10.8 billion) per day into the banking system in August through repurchase agreements, Ulyukayev said.

"As early as today we can offer up to 1.5 trillion rubles [$60 billion] through refinancing," Ulyukayev said.