Russian banks weigh up benefits of CLS membership
Local Russian banks are yet to be convinced of the benefits of CLS membership – and this could delay the introduction of the ruble as a CLS currency, bankers say.
Russia is one of five countries in advanced discussions with the industry settlement utility – alongside Brazil, Chile, China and Thailand – as CLS chases its goal of doubling the number of currencies it covers by 2022. But some local banks are still weighing up the pros and cons of CLS membership, with the potential costs a particular
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