On the maximum allotment amount at the credit auction for the provision of 3-month loans

The Bank of Russia set the maximum allotment amount at the auction for the provision of 3-month loans secured by non-marketable assets, which will be conducted on 10 November 2014, equal to 900 billion roubles. Other auction parameters are available in the press release “On the parameters of the auctions for the provision of loans secured by non-marketable assets at a floating interest rate for the third and fourth quarters of 2014”.

The maximum allotment amount exceeding the repayment of loans on the settlement day will allow to reduce the utilization of marketable collateral amid the growth in the banks’ demand for refinancing expected by the Bank of Russia by the end of the year.

The auction is conducted according to Regulation No. 312-P, dated 12 November 2007, “On the Provision of Loans Secured by Non-marketable Assets and Guarantees by the Bank of Russia to Credit Institutions”.

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