Bank of Russia to hold fine-tuning repo auction and one-week repo auction

In order to expand credit institutions’ capabilities to manage their own liquidity and maintain overnight money market rates close to the key rate, the Bank of Russia will hold a fine-tuning repo auction on 1 March 2022, the first leg to be conducted on the auction day, and the second one — on 2 March 2022.

As the banking sector is facing structural liquidity deficit, on 1 March 2022, the Bank of Russia will hold a one-week repo auction with the first leg to be conducted on 2 March 2022, and the second one —— on 9 March 2022.

The repo auctions scheduled for 1 March 2022 will be held with no limit set. All accepted requests will be met in full subject to other criteria of the above transactions.

The schedule and parameters of the auctions will be published on the Bank of Russia website in Repo operations schedule and Repo auctions parameters respectively.

In the future the Bank of Russia intends to return to the traditional parameters of liquidity management operations —— regulating the banking sector liquidity mainly through one-week operations of the Bank of Russia. Decisions on holding fine-tuning auctions and their limits will be made based on the development of the liquidity situation and the movements in money market rates.

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