Bank of Russia cuts interest rates on standing lending facilities for 2 to 90 days

Starting from 1 March 2022, the interest rates on the Bank of Russia standing lending facilities backed by securities and credit claims for 2 to 90 days are set by the regulator to be equal to the Bank of Russia key rate plus 1.00 percentage point. The interest rates on loans for 91 to 549 days remain as they are, i.e. the Bank of Russia key rate plus 1.75 percentage points. Interest rates on the Bank of Russia loans for all maturities will remain floating.

This measure is taken to support the smooth operation of the banking sector and maintain overnight money market rates close to the key rate.

Loans backed by securities or credit claims are issued under Bank of Russia Ordinance No. 4801-U, dated 22 May 2018, ‘On the Form and Conditions for Secured Bank Refinancing’ and the Terms and Conditions for the Issue and Redemption of Bank of Russia Loans Backed by Securities or Credit Claims.

The reference to the Press Service is mandatory if you intend to use this material.

28.02.2022 19.05.50