Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

On holding auction to provide Bank of Russia loans in US dollars to credit institutions

On 2 October 2015, the Bank of Russia will hold auction to provide US dollar loans secured by the pledge of claims on loans in US dollars for the term of 28 days. The auction will have the following parameters.

Auction date Settlement date Maturity date Fact term, days1 Maximum allotment, US dollars billions
02.10.2015 07.10.2015 05.11.2015 29 0.5

Auction bids will be accepted from Russian credit institutions complying with the Bank of Russia capital requirements, and from the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), which should have signed, and valid as of the auction date, general credit agreements with the Bank of Russia to provide Bank of Russia FX loans secured by the pledge of claims on FX loans.

Auction type: Dutch auction.

Minimum interest rate: the US dollar LIBOR rate for comparable term and effective on the closest date preceding the auction date, rounded to 4 decimal places and increased by 2.25 percentage points.

Minimum bid: 1 million US dollars.

Maximum number of bids from a credit institution at the auction: 2.

Only competitive bids are accepted.

Auction bids are accepted by Bank of Russia regional branches in hard copies.

Auction timing:

Tender offer till 12.00 Moscow time
Auction time till 17.00 Moscow time

As 4 November 2015 is a non-working day the maturity date shall be considered the next following working day according to Article 193 Part 1 of the Civil Code of the Russian Federation.

28 September 2015

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