Bank of Russia extends Lombard List and lowers rating requirements

Given the developments in the financial market, the Bank of Russia has decided to extend its Lombard List by including a number of issues of mortgage-backed bonds, corporate bonds, and Eurobonds to ensure business continuity of the banking sector and support credit institutions’ ability to raise liquidity via refinancing operations.

Information on the securities issues included in the Lombard List is presented in Bank of Russia Lombard List.

Moreover, the Bank of Russia made a decision to lowers requirements for the minimum credit rating of the issue (issuer) of bonds and Eurobonds included in the Lombard List. 

Beginning from 25 February 2022, bonds issued by legal entities that are residents of the Russian Federation and by constituent territories of the Russian Federation and municipalities should have the minimum credit rating of the issue (issuer) of A-(RU) / ruA- assigned by the credit rating agencies ACRA JSC / JSC Expert RA.

For issue-grade debt securities issued by legal entities that are non-residents of the Russian Federation, the minimum credit rating of the issue should be ВВ- / Ва3 assigned by the rating agencies S&P Global Ratings, Fitch Ratings / Moody’s Investors Service.

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