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Interest rates on the Bank of Russia operations

% p.a.

Purpose Type of instrument Instrument Term Rate since 03.08.15
Liquidity provision Standing facilities (fixed interest rates) Overnight loans; FX swaps (rouble leg); Lombard loans; REPO 1 day 12.00
Loans secured by gold1 1 day 12.00
from 2 to 549 days2 12.50
Loans secured by non-marketable assets or guarantees1 1 day 12.00
from 2 to 549 days2 12.75
Open market operations (minimum interest rates) Loans secured by non-marketable assets, auctions3 fom 1 to 3 weeks4, 3 months, 18 months4, 5 11.25
Lombard credit auctions3, 4 36 months 11.25
REPO and FX swap auctions from 1 to 6 days6, 1 week 11.00
(key rate)
Liquidity absorption Open market operations (maximum interest rates) Deposit auctions from 1 to 6 days6, 7, 1 week
Standing facilities (fixed interest rates) Deposit operations 1 day, call 10.00
Memo item:
Refinancing rate8
 
1 From 30 June 2014 to 15 December 2014 loans for up to 90 days were provided at a fixed interest rate, loans for 91 to 549 days - at a floating interest rate, linked to the Bank of Russia key rate. Starting from 15 December 2014 loans for 2 to 549 days are provided at a floating interest rate, linked to the Bank of Russia key rate
2 Until 30.06.2014 loans were provided for 2 to 365 days.
3 Loans provided at a floating interest rate, linked to the Bank of Russia key rate.
4 Auctions are conducted irregularly.
5 Until 16.10.2014 loans were provided for 12 months.
6 Fine-tuning operations.
7 Maximum interest rate on deposit auctions for terms from 1 to 6 days is effective since 17.02.2014.
8 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
Interest rates on the Bank of Russia suspended operations

Updated on 29 January 2016.

Interest rates on the Bank of Russia operations