Interest rates on the Bank of Russia operations

% p.a.

Purpose Type of instrument Instrument Term Rate since
28.02.11
Rate since
03.05.11
Rate since
31.05.11
Rate since
15.09.11
Rate since
26.12.11
Liquidity provision Standing facilities (fixed rates) Overnight loans 1 day 8.00 8.25 8.25 8.25 8.00
FX swaps (rouble rate) 1 day 8.00 8.25 8.25 8.25 8.00
Lombard loans, REPO 1 day, 7 days1 6.75 6.75 6.75 6.50 6.25
Lombard loans 30 days2 6.75 6.75 6.75 6.50 6.25
REPO 12 months2 7.75 8.00 8.00 7.75 7.75
Loans secured by gold Up to 90 days 6.75 6.75
From 91 to 180 days 7.25
Loans secured by non-marketable assets and guarantees Up to 90 days 7.00 7.25 7.25 7.00 7.00
From 91 to 180 days3 7.50 7.75 7.75 7.50 7.50
From 181 to 365 days2 8.00 8.25 8.25 8.25 8.00
Open market operations (minimum interest rates) REPO auctions 1 day 5.25 5.50 5.50 5.25 5.25
Lombard and REPO auctions 7 days 5.25 5.50 5.50 5.25 5.25
3 months 6.75 7.00 7.00 6.75 6.75
6 months2 7.25 7.50 7.50 7.25 7.25
12 months2 7.75 8.00 8.00 7.75 7.75
Liquidity absorption Open market operations (maximum interest rates) Deposit auctions 1 month 5.00 5.25 5.50 5.50 5.50
3 months2 6.00 6.25 6.50 6.50 6.50
Standing facilities (fixed rates) Deposit operations 1 day, 7 days, call 3.00 3.25 3.50 3.75 4.00
Memo item:
Refinancing rate 8.00 8.25 8.25 8.25 8.00
1 7 days fixed rates REPO operations have been suspended.
2 Operations have been suspended.
3 Operations were suspended from 10 February 2011, resumed from 1 November 2011.
Updated December 23, 2011.
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