Market Operations Department

The Market Operations Department is a specific Bank of Russia structural unit performing Bank of Russia operations in the domestic and foreign financial markets.

In the domestic market, the Department supplies rubles to Russian credit institutions through auctions and standing facilities, conducting repos and secured lending operations, and raising credit institutions’ funds in deposits. The Department organises the offering of Bank of Russia bonds, carries out operations to purchase and sell securities, foreign currency and gold for rubles, and settles FX swap and other transactions. Additionally, in the domestic market, the Department ensures the performance by the Bank of Russia of its functions as the general agent of Russia’s Ministry of Finance in the Russian government securities market.

In the foreign financial market, the Department conducts operations to manage Bank of Russia assets in foreign currency and precious metals.

The Department manages the Bank of Russia’s financial risks in the course of operations in the domestic and foreign markets. In particular, it participates in the formation of the Lombard List of securities accepted by the Bank of Russia as collateral when providing funds to Russian credit institutions.

The Department supports the drafting of agreements with the Bank of Russia’s counterparties on operations in the domestic and foreign financial markets.

Operations in the domestic and foreign financial markets are performed jointly with the Market Services Department which ensures settlements on transactions executed by the Market Operations Department in financial markets.