Mandatory reserves of commercial banks of the Russian Federation: current trends

Subject of the study: mandatory reserves of the Bank of Russia and their changes in connection with the new challenges of the development of the Russian economy in modern conditions. The purpose of the study is to confirm the importance of the mandatory reserve instrument for the formation of the monetary policy of the Bank of Russia in the modern conditions of the development of the Russian economy. The results of the study: the dynamics of the rate and volume of mandatory reserves reflect changes in the Russian economy. By increasing or decreasing the bank reserve rate, the Bank of Russia controls the amount of liquidity in the economy. Drastic changes in the reserve rate during difficult periods of the development of the Russian economy make it possible to smooth out fluctuations in the money supply, cash in circulation and the monetary base. The volume of reserves, in turn, reflects not only changes in the mandatory reserve rate, but also the amount of deposits, and in macroeconomic terms, the situation not only in the money market, but also in the real sector of the economy, which this shows the relationship between the volume of reserves and the dynamics of GDP. In modern conditions, the Bank of Russia differentiates the reserve rate depending on the type of currency, setting high interest rates for assets in foreign currency, stimulating assets in rubles. The Bank of Russia continues to work on improving the mandatory reserve mechanism. All this suggests that the mandatory reserve rate remains important, despite the many additional tools that support commercial banks.