Russian cbank mulls long-term refinancing for banks

MOSCOW, March 26 Wed Mar 26, 2014 3:45am EDT

MOSCOW, March 26 (Reuters) - The Russian central bank is considering three-year refinancing for banks secured by investment projects, the bank's First Deputy Governor Ksenia Yudayeva said on Wednesday.

Russian banks have been pressing the regulator for longer-term refinancing tools similar to the European Central Bank's long-term refinancing operation (LTRO). At present the Russian central bank provides medium-term refinancing up to one year.

Yudayeva said that as a first stage the central bank would accept loans that are backed by state guarantees. (Reporting by Oksana Kobzeva; Writing by Jason Bush; Editing by Maria Kiselyova)