Interest Rates in 2009

% per annum

	Jan.	Feb.	Mar.	Apr.	May	June	July	Aug.	Sept.	Oct.	Nov.	Dec.
Interbank Rate1	16.3	9.3	8.7	8.6	7.1	6.8	6.5	6.6	7.2	5.8	5.3	5.1
GKO Yield of the Bank of Russia obligations2	—	—	—	—	—	—	—	—	—	—	—	—
OBR Yield of the Bank of Russia obligations3	9.7	9.9	9.4	9.3	8.9	8.7	8.5	8.4	8.4	8.1	7.1	6.7
Deposit Rate4	7.4	7.8	8.3	8.9	8.9	8.5	8.8	9.1	9.1	9.2	8.8	8.2
Deposit Rate4, except demand deposits	9.7	10.0	10.3	10.8	10.8	10.8	10.7	10.7	10.8	10.6	10.2	9.7
Loan Rate5	17.1	16.6	16.1	16.0	15.9	15.6	14.9	15.2	14.7	14.1	13.8	13.7

	2009	Q1, 2009	Q2, 2009	Q3, 2009	Q4, 2009
Interbank Rate1	7.8	11.4	7.5	6.8	5.4
GKO Yield of the Bank of Russia obligations2	—	—	—	—	—
OBR Yield of the Bank of Russia obligations3	8.6	9.6	9.0	8.4	7.3
Deposit Rate4	8.6	7.8	8.7	9.0	8.7
Deposit Rate4, except demand deposits	10.4	10.0	10.8	10.7	10.2
Loan Rate5	15.3	16.6	15.8	14.9	13.9

1 Interbank Rate — an average-weighted rate on overnight interbank ruble credits on the Moscow market.

2 GKO Yield of the Bank of Russia obligations — an average-weighted GKO Yield of the Bank of Russia obligations by volume and term of circulation with a maturity of up to 90 days.

3 OBR Yield of the Bank of Russia obligations — an average-weighted Yield of the Bank of Russia obligations by volume and term of circulation.

4 Deposit rate — an average-weighted rate on household ruble deposits with credit institutions for a term of up to one year. Since April 2006, in accordance with the Bank of Russia Ordinance No 1660-U, dated February 17, 2006  “On amendments to the Bank of Russia Ordinance No 1376-U, dated January 16, 2004 “On the List, Forms and Procedure for Compiling and Presenting Credit Institutions Reporting Forms to the Central Bank of the Russian Federation” data of credit institutions’ branches are included in the calculation of rates on banks’ credit and deposit operations.

5 Loan rate — an average-weighted rate on ruble loans to non-financial institutions with a maturity of up to one year. Since April 2006, in accordance with the Bank of Russia Ordinance No 1660-U, dated February 17, 2006  “On amendments to the Bank of Russia Ordinance No 1376-U, dated January 16, 2004 “On the List, Forms and Procedure for Compiling and Presenting Credit Institutions Reporting Forms to the Central Bank of the Russian Federation” data of credit institutions’ branches are included in the calculation of rates on banks’ credit and deposit operations.

Annual and quarterly rates are calculated as an average of monthly data.

Updated February 17, 2010.