On the conduction of the auction for the provision of 18-month loans secured by non-marketable assets at a floating interest rate

On the 10 November 2014 The Bank of Russia will conduct the auction for the provision of 18—month loans secured by non-marketable assets at a floating interest rate simultaneously with the auction for the provision of 3—month loans. The conduction of this auction will reduce the effect of growth of Bank of Russia refinancing operations volume on banks’ liabilities’ term structure.

The auction will be held with the following parameters.

Conduction date: 10 November 2014.

Settlement date: 12 November 2014.

Maturity date: 11 May 2016.

Auction type: Dutch auction.

Maximum allotment at the auction: 150 billion roubles.

Minimum interest rate: the Bank of Russia key rate effective on the date of the credit auction increased by 0.25 percentage points.

Minimum bid: 25 million roubles.

Maximum number of bids from a credit institution: 3 for every correspondent (credited) account with the Bank of Russia.

Only competitive bids are accepted.

Auction timing:

The auction is conducted according to Regulation No. 312-P, dated 12 November 2007, “On the Provision of Loans Secured by Non-marketable Assets and Guarantees by the Bank of Russia to Credit Institutions”.

The reference to the Press Service is mandatory if you intend to use this material.