On the results of the auction to provide loans secured with non-marketable assets at a floating interest rate

On 14 July 2014, the Central Bank of the Russian Federation held an auction to provide loans secured with non-marketable assets at a floating interest rate on the following terms:

The maturity is 3 months (the settlement date — 16 July 2014, the maturity date — 15 October 2014). The type of the auction is a Dutch one. The maximum volume of funds is 700.0 billion rubles.

The auction was attended by 25 credit institutions from 10 Russian regions. Bids offering interest rates in the range of 7.76% p.a. to 8.50% p.a. were submitted to the auction by credit institutions. The auction demand is 588.3 billion rubles.

As a result of the auction the cut-off rate was set at 7.76% p.a.

The interest rate on the loans provided is also 7.76% p.a.

The volume of funds provided as a result of the auction is 588.3 billion rubles.

The auction was held in compliance with Article 46 of Federal Law No. 86-FZ, dated 10 July 2002, ‘On the Central Bank of the Russian Federation (Bank of Russia)’ and Bank of Russia Regulation No. 312-P, dated 12 November 2007, ‘On the Procedure for Extending Bank of Russia Loans to Credit Institutions Secured by Assets or Guarantees’.

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