Interest rates on the Bank of Russia operations

% p.a.

Purpose Type of instrument Instrument Term Rate since 27.03.17 Rate since 02.05.17 Rate since 19.06.17 Rate since 18.09.17
Liquidity provision Standing facilities Overnight loans; FX swaps1; Lombard loans; REPO 1 day 10.75 10.25 10.00 9.50
Loans secured by non-marketable assets or guarantees 1 day 10.75 10.25 10.00 9.50
from 2 to 549 days2 11.50 11.00 10.75 10.25
Open market operations (min bid rates) Loans secured by non-marketable assets, auctions2 3 months 10.00 9.50 9.25 8.75
FX swap auctions1 from 1 to 2 days3 9.75
(key rate)
9.25
(key rate)
9.00
(key rate)
8.50
(key rate)
REPO auctions from 1 to 6 days3, 1 week
Liquidity absorption Open market operations (max bid rates) Deposit auctions from 1 to 6 days3, 1 week
Standing facilities Deposit operations 1 day, call 8.75 8.25 8.00 7.50
Memo item:
Refinancing rate4
 
 
1 Interest rate on the ruble leg; interest rates on the FX leg are equal to LIBOR rates on overnight loans in respective foreign currencies.
2 Loans provided at a floating interest rate, linked to the Bank of Russia key rate.
3 Fine-tuning operations.
4 Starting from 1 January 2016 the refinancing rate was set equal to the Bank of Russia key rate set as of the respective date. Starting from 1 January 2016, the independent value of the refinancing rate will not be set.
Refinancing rate values prior to 01.01.2016
Interest rates on the Bank of Russia suspended operations

Updated September 15, 2017.

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