On interest rates on the Bank of Russia specialised refinancing instruments

On 25 July 2014 the Bank of Russia Board of Directors decided to raise from 6.5 to 7.0% per annum interest rates on the following specialised refinancing instruments:

loans secured by the pledge of receivables on loans extended to fund investment projects selected in accordance with the Russian Federation Government Resolution No. 1016, dated 14 December 2010, ‘On the Approval of the Rules to Select Investment Projects and Principals for the Provision of the Russian Federation Government Guarantees for Loans or Bonded Loans Attracted to Carry out Investment Projects’ (On the implementation of new mechanism for credit institution refinancing);

loans secured by bonds placed for investment project funding and included in the Bank of Russia Lombard List (On supplementing refinancing mechanism for investment project loans);

loans secured by the pledge of receivables on loan agreements secured by insurance agreements of the open joint stock company Export Insurance Agency of Russia (OJSC ‘EXIAR’).

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