On the results of the auction to provide loans secured with non-marketable assets at a floating interest rate
On 9 June 2014, the Central Bank of the Russian Federation held an auction to provide loans secured with non-marketable assets at a floating interest rate on the following terms:
The maturity is 3 months (the settlement date — 11 June 2014, the maturity date — 10 September 2014). The type of the auction is a Dutch one. The maximum volume of funds is 500.0 billion rubles.
The auction was attended by 20 credit institutions from 20 Russian regions. Bids offering interest rates in the range of 7.75% p.a. to 10.00% p.a. were submitted to the auction by credit institutions. The auction demand is 503.3 billion rubles.
As a result of the auction the cut-off rate was set at 7.75% p.a.
The interest rate on the loans provided is also 7.75% p.a.
The volume of funds provided as a result of the auction is 500.0 billion rubles.
The auction was held in compliance with Article 46 of Federal Law No.
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