Interest rates on the Bank of Russia operations

% p.a.

Purpose Type of instrument Instrument Term Rate since
11.12.12
Rate since
03.04.13
Rate since
16.05.13
Rate since
11.06.13
Rate since
16.09.13
Liquidity provision Standing facilities (fixed rates) Overnight loans 1 day 8.25 8.25 8.25 8.25 6.50
FX swaps (rouble rate) 1 day 6.50 6.50 6.50 6.50 6.50
Lombard loans, REPO 1 day,
1 week1
6.50 6.50 6.50 6.50 6.50
Lombard loans 30 days1 6.50 6.50 6.50 6.50 6.50
REPO 12 months1 8.00 7.75 7.50 7.25 7.25
Loans secured with gold 1 day 7.00 6.75 6.50 6.50 6.50
Up to 90 days2 7.00 6.75 6.50 6.50 6.50
From 91 to 180 days2 7.50 7.25 7.00 7.00 7.00
From 181 to 365 days2 8.00 7.75 7.50 7.25 7.25
Loans secured with non-marketable assets and guarantees 1 day 7.25 7.00 6.75 6.75 6.50
Up to 90 days3 7.25 7.00 6.75 6.75 6.75
From 91 to 180 days3 7.75 7.50 7.25 7.25 7.25
From 181 to 365 days3 8.25 8.00 7.75 7.50 7.50
Open market operations (minimum interest rates) REPO auctions 1 day4 5.50 5.50 5.50 5.50 5.50
Loans secured with non-marketable assets, auctions5 3 months 5.75
Loans secured with non-marketable assets and guarantees, auctions5 12 months 5.756 5.75
Lombard and REPO auctions 1 week 5.50 5.50 5.50 5.50 5.50
3 months7 7.00 6.75 6.50 6.50 6.50
6 months1 7.50 7.25 7.00 7.00 7.00
12 months7 8.00 7.75 7.50 7.25 7.25
Liquidity absorption Open market operations (maximum interest rates) Deposit auctions 1 week 5.00 5.00 5.00 5.00 5.50
1 month1 5.75 5.75 5.75 5.75 5.75
3 months1 6.75 6.75 6.50 6.50 6.50
Standing facilities (fixed rates) Deposit operations 1 day,
1 week1,
1 month7,
call
4.50 4.50 4.50 4.50 4.50
For reference:
Refinancing rate 8.25 8.25 8.25 8.25 8.25
1 Operations have been suspended.
2 The interest rate on operations to provide loans secured with gold at fixed rates for terms from 2 to 365 days will be set at 7.0 percent per annum starting 03.02.2014.
3 The interest rate on operations to provide loans secured with non-marketable assets or guarantees at fixed rates for terms from 2 to 365 days will be set at 7.25 percent per annum starting 03.02.2014.
4 Daily operations will be suspended starting 01.02.2014. One- to six-day REPO auctions will be used as fine-tuning operations.
5 Loans extended at a floating interest rate, linked to the level of the Bank of Russia key rate.
6 Interest rate effective since 15.07.2013.
7 Operations will be suspended starting 01.02.2014.
Updated December 13, 2013.
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