If you have questions about Russia - come here! (Poll added!)

[mai]

KingofTrolls said:

mai said:

PDF said:
How do you feel about Russia recent economic turmoil?

Currently? Laughing my ass off :D I wonder how CNBC will report that, if it ever does of course. MSM do have a habbit to keep silence on certain events if they do not fit the agenda.

Can u translate this doc ?

Google translates this close enough...

On the foreign currency loans, secured claims under foreign currency loans

The Board of Directors of Bank of Russia December 23, 2014 decided to introduce a new instrument - foreign currency loans, secured claims under foreign currency loans. The decision is aimed at strengthening the capacity of credit institutions to manage their own foreign currency liquidity and to refinance foreign loans Russian companies-exporters in foreign currency maturing in the near future, with limited access to international capital markets. The introduction of these operations will also facilitate the return of the exchange rate to a fundamentally sound values ​​and a balance of supply and demand in the foreign exchange market at a lower exchange rate volatility.

etc.

If anything the biggest obstacle here is bureaucracy language official institutions use, took me a couple of readings to get the grasp of the meaning. Basically CB has thrown away western institutions from the loan trade, previosuly exporters have to obtain funds on western markets under higher yields, while for said mediators that was easy grab, buy more for less.