Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;
www.cbr.ru

Information Notice

On selling OFZ from Bank of Russia portfolio

During the period from April 2016 till January 2017, the Bank of Russia sold sovereign bonds (OFZ) with a total par value of 144.106 billion rubles from its portfolio. During the same period, the BoR-held OFZ with a total value of 39.618 billion rubles were redeemed. In addition, the failure of credit institutions to honour their liabilities under refinancing operations added OFZ with a total par value of 0.189 billion rubles to the Bank of Russia’s portfolio in January 2017.

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
Redeemed since 1 January 2016 39.618
Balance as of 1 February 2017 63.791

The Bank of Russia will continue to sell OFZ and report the volume of sales on the 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. Nevertheless, the Bank of Russia tries to minimise the effect of sales on the OFZ market climate.

03 February 2017

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