On OFZ sales from Bank of Russia portfolio
During the period between April 2016 and March 2017, the Bank of Russia sold sovereign bonds (OFZ) with a total par value of 145.347 billion rubles from its portfolio During the same period, the BoR-held OFZ with a total value of 42.012 billion rubles were redeemed.
| Par value of OFZ, billion rubles | |
| Sold in April 2016 | 60.694 |
| Sold in May 2016 | 59.207 |
| Sold in June 2016 | 11.580 |
| Sold in July 2016 | 0.630 |
| Sold in August 2016 | 1.168 |
| Sold in September 2016 | 3.456 |
| Sold in October 2016 | 3.833 |
| Sold in November 2016 | 2.307 |
| Sold in December 2016 | 0.335 |
| Sold in January 2017 | 0.895 |
| Sold in February 2017 | 0.597 |
| Sold in March 2017 | 0.644 |
| Redeemed since 1 January 2016 | 42.012 |
| Balance as of 1 April 2017 | 60.712 |
The Bank of Russia will continue to sell OFZ and report the volume of sales on a monthly basis.
The Bank of Russia’s OFZ sales allow it to partially absorb the liquidity inflow from financing federal budget deficit from the Reserve Fund. In addition, the OFZ sales may help increase liquidity and depth of the secondary government bond market.
The Bank of Russia sells OFZ issues at the Moscow Exchange. At the same time, the Bank of Russia tries to minimise the effect of sales on the OFZ market climate.
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