Press Service

On the conduction of the auction for the provision of 3-week loans secured by non-marketable assets

On the 22 December 2014 The Bank of Russia will conduct the auction for the provision of 3—week loans secured by non-marketable assets. The auction will be held with the following parameters.

Conduction date: 22 December 2014.

Settlement date: 24 December 2014.

Maturity date: 14 January 2015.

Auction type: Dutch auction.

Maximum allotment at the auction: 500 billion rubles.

Minimum bid rate: the Bank of Russia key rate effective on the date of the auction increased by 0.25 percentage points.

Minimum bid volume: 25 million rubles.

Maximum number of bids from a credit institution: 3 for every correspondent (credited) account with the Bank of Russia.

Only competitive bids are accepted.

Auction timing:

The maximum allotment amount at the auction is established in line with the Bank of Russia conservative approach to the provision of banking sector liquidity. The benchmark allotment is determined with consideration to the liquidity outflow induced by influence of seasonal liquidity factors in December 2014. Moreover, the conduction of the auction will allow credit institutions reduce the volume of RUB standing facilities, which must enhance the efficiency of the monetary policy.

The auction is conducted according to Regulation No. 312-P, dated 12 November 2007, “On the Provision of Loans Secured by Non-marketable Assets and Guarantees by the Bank of Russia to Credit Institutions”.