On results of auction to provide 3-week loans secured by non-marketable assets

On 22 December 2014, the Bank of Russia held an auction to provide loans secured by non-marketable assets on the following terms:

The maturity is 3 weeks (the settlement date — 24 December 2014, the maturity date — 14 January 2015). The type of the auction is a Dutch one. The maximum volume of funds is 500.00 billion rubles.

The auction was attended by 9 credit institutions from 8 Russian regions. Bids offering interest rates in the range of 17.30% p.a. to 19.00% p.a. were submitted to the auction. The auction demand is 262.00 billion rubles.

As a result of the auction the cut-off rate was set at 17.30% p.a.

The interest rate on the loans provided is also 17.30% p.a.

The volume of funds provided as a result of the auction is 262.00 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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