On results of auction to provide loans secured by non-marketable assets at floating interest rate
On 10 November 2014, the Central Bank of the Russian Federation held an auction to provide loans secured by non-marketable assets at a floating interest rate on the following terms:
The maturity is 18 months (the settlement date — 12 November 2014, the maturity date — 11 May 2016). The type of the auction is a Dutch one. The maximum volume of funds is 150.00 billion rubles.
The auction was attended by 10 credit institutions from 4 Russian regions. Bids offering interest rates in the range of 9.75% p.a. to 12.50% p.a. were submitted to the auction. The auction demand is 282.7 billion rubles.
As a result of the auction the cut-off rate was set at 9.75% p.a.
The interest rate on the loans provided is also 9.75% p.a.
The volume of funds provided as a result of the auction is 150.0 billion rubles.
The auction was held in compliance with Article 46 of Federal Law No.
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