Interest rates on the Bank of Russia major operations (starting September 18th)

Interest Rate Russia
Interest Rate Russia

Information from Central Bank’s web-site https://www.cbr.ru

(% p.a.)

Purpose Type of instrument Instrument Term Rate since 19.06.17 Rate since 18.09.17
Liquidity provision Standing facilities Overnight loans; FX swaps1; Lombard loans; REPO 1 day 10.00 9.50
Loans secured by non-marketable assets or guarantees 1 day 10.00 9.50
from 2 to 549 days2 10.75 10.25
Open market operations (min bid rates) Loans secured by non-marketable assets, auctions2 3 months 9.25 8.75
FX swap auctions1 from 1 to 2 days3 9.00 (key rate) 8.50 (key rate)
REPO auctions from 1 to 6 days3, 1 week
Liquidity absorption Open market operations (max bid rates) Deposit auctions from 1 to 6 days3, 1 week
Standing facilities Deposit operations 1 day, call 8.00 7.50
Memo item: Refinancing rate4
1 Interest rate on the ruble leg; interest rates on the FX leg are equal to LIBOR rates on overnight loans in respective foreign currencies.
2 Loans provided at a floating interest rate, linked to the Bank of Russia key rate.
Fine-tuning operations.
4 Starting from 1 January 2016 the refinancing rate was set equal to the Bank of Russia key rate set as of the respective date. Starting from 1 January 2016, the independent value of the refinancing rate will not be set.

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