Bank of Russia changes requirements for securities classes to be included in its Lombard List

The Bank of Russia Board of Directors suspended from 1 October 2021 the inclusion in the Lombard List of all securities, with the exception of bonds issued on behalf of the Russian Federation, and bonds of the Bank of Russia. All securities previously included in the Lombard List shall be kept in it until they are redeemed.

The decision was made taking into account the liquidity surplus formed in the banking sector and the sufficient amount of collateral available to credit institutions for refinancing operations.

The Bank of Russia is implementing a countercyclical approach to the formation of its Lombard List, according to which, with a structural liquidity surplus, the number of classes of securities accepted as collateral is reduced. If a structural liquidity deficit arises and grows, which may lead to a shortage of collateral, the Bank of Russia will soften the requirements for its quality and increase the number of classes of securities it accepts as collateral.

The Bank of Russia constantly monitors available collateral in the banking sector for refinancing of credit institutions and, if necessary, is ready to respond flexibly to changes in the market situation.

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13.08.2021 18.00.00