Russian cenbank widens Lombard List, lowers rating requirements

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FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow

MOSCOW – The Russian central bank widened the Lombard List of collateral it agrees to take in exchange for provide banks with liquidity and also lowered rating requirements, expanding refinancing options for the financial sector amid looming Western sanctions.

Earlier on Thursday, the central bank started to sell off the foreign currency on the market to support the rouble and provided banks with extra dollar and rouble liquidity, as Russian assets tumbled after Moscow invaded neighbouring Ukraine.

(Reporting by Katya Golubkova; Editing by Alison Williams)