Bank of Russia Board of Directors decides to update its approach to compiling Lombard List

To implement the countercyclical approach to compiling its Lombard List, given that credit institutions have sufficient collateral, the Bank of Russia decided not to include in the Lombard List bonds of the following categories of financial organisations: development institutions, leasing, factoring, and microfinance organisations, special-purpose financial companies, and special-purpose project financing companies.

This decision is not applicable to mortgage-backed bonds of Limited liability company DOM.RF Mortgage agent and those bonds of the above issuers that have been already included in the Lombard List. The measure will not prevent the use of these bonds in Bank of Russia repo operations and lending operations (provided issuers/bond issues are compliant with Bank of Russia requirements).

The decision will become effective on 15 December 2025.

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12.12.2025 13.25.00