On interest rates on the Bank of Russia specialised refinancing instruments
On 28 April 2017, the Bank of Russia Board of Directors decided to reduce interest rates on some specialised refinancing instruments from 2 May 2017 due to reduction of the Bank of Russia key rate.
Interest rates on the following instruments:
loans secured by the pledge of receivables on loans extended to fund investment projects;
loans secured by the pledge of receivables on loans extended to leasing companies,
have been reduced to 8.25% p.a.
The interest rate on the Bank of Russia loans secured by the mortgages issued under the Military Mortgage Programme, has been reduced to 9.25% p.a.
The interest rate on the Bank of Russia loans secured by the pledge of receivables on loan agreements secured by insurance agreements of OJSC Export Insurance Agency of Russia (OJSC ‘EXIAR’), has been reduced to 6.50% p.a.
In compliance with the decision of the Bank of Russia Board of Directors, from 2 May 2017 the reduced interest rates shall be applied also to loans previously issued under these instruments of the Bank of Russia.
Interest rates on the following instruments:
loans secured by the pledge of receivables on loan agreements entered by JSC SME Bank with credit institutions or microfinance organisations and which are targeted for lending to small and medium enterprises and with leasing companies which are targeted for leasing property to small and medium enterprises;
loans secured by the surety of JSC Russian Small and Medium Business Corporation, are kept unchanged at 6.50% p.a.
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