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The Bank of Russia accredits the MosPrime Rate benchmark

2 March 2017

The Bank of Russia has recognized the quality of MosPrime Rate, a financial benchmark of Self-Regulated Organization “National Financial Association” (SRO NFA), as well as the quality of SRO NFA performance as administrator of this benchmark, to be satisfactory.

MosPrime Rate benchmark is an independent indicative offered rate for interbank Rouble credits (deposits). This benchmark is calculated by SRO NFA on the basis of rates quoted by the leading banks to first class financial institutions. The benchmark is calculated for different periods: overnight, 1 week, 2 weeks, 1, 2, 3 and 6 months. The calculation agent for MosPrime Rate is Thomson Reuters.

The main criteria for assessment as well as the list of required documents are determined in the Bank of Russia Information Letter. The Bank of Russia’s requirements are based on the International Organisation of Securities Commissions (IOSCO) Principles for Financial Benchmarks.

Preview photo: Phongphan / shutterstock