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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 Rate since 14.06.16 Rate since 19.09.16
Liquidity provision Standing facilities Overnight loans; FX swaps (ruble leg); Lombard loans; REPO 1 day 12.00 11.50 11.00
Loans secured by gold 1 day 12.00 11.50 11.00
from 2 to 549 days1 12.50 12.00 11.50
Loans secured by non-marketable assets or guarantees 1 day 12.00 11.50 11.00
from 2 to 549 days1 12.75 12.25 11.75
Open market operations (min bid rates) Loans secured by non-marketable assets, auctions1 from 1 to 3 weeks2, 3 months, 18 months2 11.25 10.75 10.25
Lombard credit auctions1, 2 36 months 11.25 10.75 10.25
REPO and FX swap auctions from 1 to 6 days3, 1 week 11.00
(key rate)
10.50
(key rate)
10.00
(key rate)
Liquidity absorption Open market operations (max bid rates) Deposit auctions from 1 to 6 days3, 1 week
Standing facilities Deposit operations 1 day, call 10.00 9.50 9.00
Memo item:
Refinancing rate4
 
 
1 Loans provided at a floating interest rate, linked to the Bank of Russia key rate.
2 Starting from 01.07.2016 auctions were discontinued.
3 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.
Refinancing rate values prior to 01.01.2016
Interest rates on the Bank of Russia suspended operations

Updated September 16, 2016.

Interest rates on the Bank of Russia operations