Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

On changes to the time limits for settlements under Bank of Russia operations

The Bank of Russia changes the timeframe for settlements with credit institutions under Bank of Russia loans and those for repayments under Bank of Russia deposit facilities. The decision is aimed at imparting more flexibility to credit institutions’ liquidity management processes. The changes are effective 4 December 2017.

Starting from 4 December 2017, Bank of Russia operations will be conducted with the following time limits1:

— Bank of Russia funds under its deposit facilities shall be repaid by the Bank of Russia between 10:30 and 11:30 local time

— the Bank of Russia shall issue collection orders against mature Bank of Russia loans between 16:00 and 17:00 local time on the date the credit institution settles its liabilities to the Bank of Russia (alternatively, on the loan repayment date before maturity, on receipt of a credit institution-submitted notice). The timeframe for repayment of overnight loans and loans secured with assets pledged under other loans remains unchanged.

The latter provision does not preclude a credit institution’s right to apply to the Bank of Russia if necessary, requesting an earlier timeframe for loan repayment, on the liability payment date or before liabilities mature.

Until 4 December 2017 settlements under lending operations shall be conducted before the start of a regular BESP (the Banking Electronic Speedy Payment) system session, while those under deposit facilities shall be conducted at the start of a regular BESP session.

30 November 2017

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