Interest rates on the Bank of Russia major operations (starting March 27th)

Interest Rate Russia
Interest Rate Russia

Information from Central Bank’s web-site

(% p.a.)

Purpose Type of instrument Instrument Term Rate since 19.09.16 Rate since 27.03.17
Liquidity provision Standing facilities Overnight loans; FX swaps1; Lombard loans; REPO 1 day 11.00 10.75
Loans secured by gold 1 day 11.00 10.75
from 2 to 549 days2 11.50 11.25
Loans secured by non-marketable assets or guarantees 1 day 11.00 10.75
from 2 to 549 days2 11.75 11.50
Open market operations (min bid rates) Loans secured by non-marketable assets, auctions2 from 1 to 3 weeks3, 3 months, 18 months3 10.25 10.00
Lombard credit auctions2,3 36 months 10.25 10.00
FX swap auctions1 from 1 to 2 days4 10.00 (key rate) 9.75 (key rate)
REPO auctions from 1 to 6 days4, 1 week
Liquidity absorption Open market operations (max bid rates) Deposit auctions from 1 to 6 days4, 1 week
Standing facilities Deposit operations 1 day, call 9.00 8.75
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.
3 Starting from 01.07.2016 auctions were discontinued.
4 Fine-tuning operations.
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. Refinancing rate values prior to 01.01.2016

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