Bank of Russia Proposes Mandatory Yuan Reserves for Lenders to Curb Volatility
Russia's central bank is weighing a rule that would require commercial banks to hold mandatory yuan reserves, aiming to ease shortages of the Chinese currency in the foreign-exchange market and to rein in outsized yuan lending. Governor Elvira Nabiullina flagged the proposal after yuan swap rates surged above 40% in March due to heavy lending and d…