On the maximum allotment amount at the credit auction for the provision of 3-month loans

The Bank of Russia set the maximum allotment amount at the auction for the provision of 3-month loans secured by non-marketable assets, which will be conducted on 12 January 2015, equal to 1100 billion roubles. Other auction parameters are available in the press release “On the parameters of the auctions for the provision of 3-month loans secured by non-marketable assets at a floating interest rate for 2015”.

The maximum allotment amount exceeding the repayment of loans on the settlement day will allow banks reduce the outstanding amount on previously provided standing facility loans secured by non-marketable assets and scale down the utilization of the marketable collateral.

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”.

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