In the domestic market, the Bank of Russia carries out monetary policy transactions. They are aimed at converging interest rates in the overnight segment of the money market with the key rate.
Also, the Bank of Russia can conduct financial operations for purposes other than monetary policy objectives, e.g. provide liquidity to credit institutions temporarily struggling to obtain it or carry out transactions to maintain financial stability.
There are terms and procedures for each type of the Bank of Russia’s operations in the domestic market, including requirements for counterparties and the credit quality of financial assets.
In the external market, the Bank of Russia manages its assets denominated in foreign currency and gold. These assets are included in the international reserves of the Russian Federation.