Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

On interest rates on the Bank of Russia specialised refinancing instruments

Due to the decision of the Bank of Russia Board of Directors to raise the key rate to 10.50% per annum on 11 December 2014, interest rates on the specialised refinancing instruments are adjusted by 1 percentage point.

As a result, from 12 December 2014, the interest rates on the following instruments set at the key rate level less 1.5 percentage points are set at 9.00%:

loans secured by the pledge of receivables on loans extended to fund investment projects;

loans secured by bonds placed for investment project funding and included in the Bank of Russia Lombard List;

loans secured by the pledge of receivables on loan agreements secured by insurance agreements of OJSC Export Insurance Agency of Russia (OJSC ‘EXIAR’).

The interest rate on the Bank of Russia loans secured by the mortgages given under the program ‘Military mortgage’, which is set at the Bank of Russia key rate level increased by 0.25 percentage points, will be equal 10.75% per annum from 12 December 2014.

The interest rate on loans secured by the pledge of receivables on interbank loan agreements extended by OJSC SME Bank is set at 6.50% per annum from 12 December 2014.

11 December 2014

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