Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

On the suspension of the Bank of Russia loans secured by gold

Since April 3 2017 the Bank of Russia will suspend the provision of loans secured by gold to banks due to the absence of demand for this instrument.

In the presence of structural liquidity surplus liquidity needs of the credit institutions are modest and can be satisfied through the other refinancing operations. This is indicated by the long time absence of banks’ liabilities for loans secured by gold. This decision of the Bank of Russia will not affect its ability to keep the short-run interest rates close to the Bank of Russia key rate .

The provision of loans secured by gold by the Bank of Russia is carried out in accordance with the Bank of Russia Regulation No. 362-P dated November 11, 2010 “On the Bank of Russia loans secured by gold extending procedure”.

30 March 2017

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