Bank of Russia recommends banks to switch to RUONIA Averages since 1 September 2022
29 July 2022
Press release
In its information letter, the regulator recommends that banks issuing loans at floating interest rates and developing other financial products should use RUONIA Averages for one, three or six months as a benchmark.
In contrast to other benchmarks, RUONIA Averages has a stabilising effect making it possible to protect borrowers against short-term fluctuations in the money and foreign exchange markets.
The Bank of Russia will monitor the use of RUONIA Averages by banks.
The reference to the Press Service is mandatory if you intend to use this material.
29.07.2022 17.50.00