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RUONIA benchmark interest rate

RUONIA (Ruble Overnight Index Average) is the weighted average interest rate on overnight interbank ruble loans (deposits) reflecting the cost of unsecured overnight borrowing.

The RUONIA rate is based on the reporting of major banks compiled according to Form 0409701 ‘The foreign exchange and money markets transactions report’ submitted by credit institutions to the Bank of Russia in compliance with Bank of Russia Ordinance No. 4927-U ‘On the List, Forms and Procedure for Compiling and Submitting Credit Institutions’ Reporting Forms to the Central Bank of the Russian Federation’ (as amended), and is published on the next business day following operations conducted by credit institutions by 15:00 Moscow time.

RUONIA is one of risk-free interest rate benchmarks used for the monitoring and analysis of the efficiency of achieving the operational objective of the Bank of Russia’s monetary policy. The pricing of several financial instruments, such as loans, bonds and derivatives, is linked to RUONIA.

RUONIA is currently administered by the Bank of Russia, which is fully in charge of all the stages of this process, including RUONIA methodology, compilation of the list of contributor banks, data collection, and calculation and publication of the interest rate.

Important

Department responsible for publication: Statistics Department
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Last updated on: 12/01/2021