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The funds of individuals in Russian banks in February 2022 decreased by 1.2 trillion rubles (3.5%). This is stated in the review of the Bank of Russia “On the development of the banking sector of the Russian Federation in February 2022”.
The funds of the population decreased mainly in the last week of the month. “The negative information background in the context of sanctions against the largest Russian banks stimulated the increased demand of the population for ruble and foreign currency cash,” the review says.
According to the regulator, the increase in the key rate of the Central Bank from 9.5% to 20% on February 28 made it possible to restore the inflow of funds for fixed-term ruble deposits and stabilize the population’s demand for cash.
Recall that on February 24, 2022, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, EU, UK, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
