CBA announces directions to spend AZN 7.5B to be transferred from SOFAZ

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# 12:43
19 January 2017

“We have analyzed for a long period the factors of global balancing of bank jointly with related economic bodies within the Financial Stability Board. The most significant point among these factors is that the fund will be directed to external debts of the state for a year, financing of TANAP, normalization of IBA and regulation of external debts of the bank, as well as allocation of funds for Deposit Insurance Fund if needed. All these factors are intended for the fixed liabilities to neutralize the pressure on the currency market. This will create condition for formation of exchange rate without volatility and on the basis of market principles and”, he said. 

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THE OPERATION IS BEING PERFORMED