Bank of Russia amends Lombard List procedure due to limited information disclosure by bond issuers
On 31 July 2025, the Bank of Russia Board of Directors decided that the Lombard List shall not include bonds for which issuers or guarantors1 limit information disclosure:
to a greater extent than permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations;
to the extent permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations, provided that the issue, issuer, or guarantor of bonds has less than two credit ratings not below A-(RU) / ruA- / A-.ru / А-|ru| assigned by different credit rating agencies ACRA (JSC) / JSC Expert RA / NCR / NRA.
The Bank of Russia will suspend repos and lending operations involving bonds if their issuer or guarantor limits its information disclosure to a greater extent than permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations until the said violations are eliminated. If such violations are not eliminated within three months from the date when relevant orders are sent to the issuer or guarantor, the corresponding bonds will be excluded from the Lombard List.
Moreover, the regulator will exclude from the Lombard List bonds, for which the issuer or guarantor limits information disclosure to the extent permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations, provided that the issue, issuer, or guarantor of these bonds has less than two credit ratings not below A-(RU) / ruA- / A-.ru / А-|ru| assigned by different credit rating agencies ACRA (JSC) / JSC Expert RA / NCR / NRA.
The conditions under paragraphs three and five do not apply to the non-disclosure of information about persons entitled to directly or indirectly dispose of shares (stakes) constituting the authorised capital of the issuer or guarantor, about their beneficial owners and/or management bodies, as well as information contained in the register of mortgage-backed bonds of DOM.RF Mortgage agent.
This decision becomes effective from the date of its publication on the Bank of Russia website.
The reference to the Press Service is mandatory if you intend to use this material.
06.08.2025 12.00.00