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

Amid a structural liquidity deficit emerging in the banking sector, on 22 March 2022, the Bank of Russia will hold a one-week repo auction with the first leg to be conducted on 23 March 2022, and the second one — on 30 March 2022. The maximum allotment amount at the auction will be set on 22 March 2022. The schedule and parameters of the auction will be published on the Bank of Russia website in Repo operations schedule and Repo auctions parameters, respectively.

To expand credit institutions’ capabilities to manage their liquidity and maintain overnight money market rates close to the key rate, the Bank of Russia will continue to hold fine-tuning overnight repo auctions daily on business days in the amount of three trillion rubles, with the first leg to be conducted on the auction day, and a fine-tuning overnight deposit auction in the amount of one trillion rubles, with the deposit date to be the auction date.

The Bank of Russia will continue to monitor the liquidity situation in the Russian banking sector and, as the situation stabilises further, will return to the standard procedure for conducting monetary policy operations and managing liquidity through one-week auctions.

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