On results of auction to provide 3-month loans secured by non-marketable assets at floating interest rate
On 5 March 2015, the Bank of Russia held an auction to provide loans secured by non-marketable assets at a floating interest rate.
The auction was attended by 25 credit institutions which submitted bids for Bank of Russia loans on main (credited) accounts in 46 Russian regions. Bids offering interest rates in the range of 15.25% p.a. to 17.00% p.a. were submitted to the auction. The auction demand was 777.1 billion rubles.
As a result of the auction the cut-off rate was set at 15.31% p.a.
The interest rate on the loans provided was also 15.31% p.a.
The volume of funds provided as a result of the auction was 700. billion rubles.
The maturity is 3 months (the settlement date — 11 March 2015, the maturity date — 10 June 2015). The type of the auction is a Dutch one. The maximum allotment amount is 700.0 billion rubles.
The auction was held in compliance with Article 46 of Federal Law No.
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