Bank of Russia changes approach to setting minimum price for Bank of Russia coupon bonds

The Bank of Russia has decided to transform its approach to setting the minimum price for Bank of Russia coupon bonds (coupon OBRs) at auctions for their placement (additional placement). From the start date of the offering of the 29^th issue, the minimum price for coupon OBRs will be set at the level of 100% of their par value, which implies that there will be no premium to the Bank of Russia key rate. This decision was approved given the current situation in the money market and the level of credit institutions’ demand for coupon OBRs.

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