OREANDA-NEWS. February 12, 2009. The Bank of Russia has softened requirements for bank capital to guarantee part of losses on the interbank lending market, and offered another seven banks to execute agreements. Offers were sent to URSA Bank, Bank St. Petersburg, Petrokommerz Bank, International Industrial Bank, TransCreditBank, Absolut Bank and Bank AK Bars, CBR said.

Such support is provided by the package of anti-crisis measures which was signed into law in October 2008. The Bank of Russia is entitled to execute agreements from October 14, 2008 to December 31, 2009 inclusive and offset part of losses to a bank whose counterparty as part of a transaction on the interbank lending marker has had its license to perform banking operations revoked.