New version of terms and conditions for issue and repayment of Bank of Russia loans published

The new version of the Terms and Conditions for the Issue and Repayment of Bank of Russia Loans Backed by Securities or Credit Claims will be applied beginning on 1 January 2023.

The document has been updated as the Bank of Russia switched to the use of credit institution credit ratings instead of classification groups in its liquidity provision operations.

The regulator will use credit ratings not only to provide credit institutions with access to operations with the Bank of Russia, but also to demand early repayment of funds from them. Notably, the Bank of Russia will not demand prepayment of loans granted before 1 January 2023 to those credit institutions that lack credit ratings of the required levels.

In addition, the Bank of Russia will be entitled to accelerate a loan if a credit institution has overdue liabilities to the Bank of Russia, including loans, repos in rubles and foreign currency, operations to purchase/sell securities, foreign currency (including swap transactions), and precious metals.

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

23.12.2022 11.18.00