Armenia’s banking sector has no liquidity problem

20.03.2020 19:01
Armenia’s banking sector has no liquidity problem

YEREVAN, March 20. /ARKA/. Armenia’s banking sector has no liquidity problem, Central Bank Board member Arthur Stepanyan said at a press conference on Friday.

He said the Central Bank possesses both macro-prudential and regulatory instruments to ensure financial stability and to keep the system in a liquid state. In his words, all the banks and credit organizations are well aware that, if necessary, the regulator will make certain mitigations so that the system can absorb and soften all possible negative developments that may occur in the future.

He repeated that the country’s banking system retains liquidity, and so far, no organization has applied to the Central Bank on this issue, since the system itself is quite liquid, strong and capitalized.
"The Central Bank is monitoring all economic and financial developments, considering various alternative scenarios and is ready to respond to any situation," Stepanyan said.

At the same time, according to him, in order to increase the efficiency of the policy, the Central Bank is in constant touch with the banks, credit organizations and other participants of the financial market and expects their close and transparent cooperation with their clients.

"We are constantly monitoring the behavior of participants of the financial market, and quickly respond with our tools to all the needs of the system," said Stepanyan. -0-

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