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various bond issues was selective, but were repatriation issues. Demand at GKO auc since the middle of the year it had become less tions on

December 2004 and interest on the secondary market, some of them at auc rates ranged from 4.2% to 5.7% p.a. 58 II.

will hold on Tuesdays either liquidity provision auctions (repo and Lombard loan auc- tions) or liquidity absorption auctions (deposit auctions) for a term of 1

calendar days in ad- vance for the purchase of foreign currency at auc- tions at the Belarussian Currency and Stock Exchange (eventually, this requirement was

OBR bond auctions from November 2010 and to stop holding three-month deposit auc- tions from January 2011 to raise the efficiency of its monetary policy

credit risk limits. The Bank of Russia has not held 12month repo auc­tions since March 2010 and 6month repo auctions since April. On April

1 January 2011. The Bank of Russia has not held 12month repo auc- tions since March 2010 and 6month repo auctions since April. On 30

was low because of their low real yield. As no primary market auc tions were held in early September and auctions were cancelled in the

set as follows: overnight weighted interest rate at the 4 week deposit auc at 6.25% p.a., seven days at 6.75% p.a.

Reserve was to main weighted interest rate at the four seven day auc tain stability in the financial sector and avert the risk of an