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Bank of Russia’s comment on operations in public debt market

18 March 2022

The Bank of Russia has made the decision that the stock market section of the Moscow Exchange will restart trading in federal government bonds on 21 March 2022. To ensure a balanced liquidity position in the securities market and prevent excessive volatility, the Bank of Russia will purchase federal government bonds in amounts needed to limit financial stability risks. The Bank of Russia will make these purchases until prices for financial instruments completely adjust to the new conditions.

In order to neutralise the impact of these purchases on monetary policy, the Bank of Russia plans to subsequently sell the entire portfolio of these bonds. The Bank of Russia will make a decision on the time and schedule for selling this portfolio later, depending on the actual situation in financial markets.

Information on the resumption of trading in other instruments in the stock market section of the Moscow Exchange will be released on the Bank of Russia website later.