Russian central bank says repo auction on Monday will have no limit

MOSCOW – Russia’s central bank said on Sunday there would be no limit at a “fine-tuning” repo auction it plans to hold on Monday and added that the banking system remained stable after a raft of new sanctions targeting Russia’s financial institutions.

The central bank said bank cards were working as normal and that customers’ funds could be accessed at any time. It said it would substantially increase the range of securities that can be used as collateral to get central bank loans.

(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Andrew Cawthorne)