Bank of Russia authorises ruble deposit rate RUONIA

The Bank of Russia has recognised the calculation quality of RUONIA — the rate of overnight ruble deposits in the Russian interbank market administrated by the self-regulatory organisation National Finance Association (NFA) — as satisfactory.

RUONIA is the weighted rate of overnight interbank ruble loans (deposits) that represents the cost of overnight unsecured ruble loans of standard borrowers — Russian banks with minimum credit risk.

To calculate RUONIA, the Bank of Russia applies the methodology elaborated by the NFA based on the information on deposit transactions made between member-banks given in reporting Form 0409701, ‘Report on Operations in the FX and Money Markets’.

RUONIA complies with the Bank of Russia requirements based on the International Organisation of Securities Commissions (IOSCO) Principles for Financial Benchmarks.