Interest Rates on the Bank of Russia operations
Interest rates on Bank of Russia monetary policy instruments
| Operations | Term | Interest rate |
|---|---|---|
| Deposit standing facilities |
1 day |
Bank of Russia key rate less 100 b.p. |
| Main auctions (Deposit auctions / Repo auctions) |
1 week | Bank of Russia key rate |
| Fine-tuning auctions (Deposit auctions / Repo auctions) |
from 1 to 6 days | |
| Longer-term auctions: repo auctions |
1 month | Bank of Russia key rate plus 10 b.p. |
| 1 year | Bank of Russia key rate plus 25 b.p. | |
| loan auctions | 3 months | |
| Loans PM, repos PM and FX swaps standing facilities |
1 day | Bank of Russia key rate plus 100 b.p. |
| Longer-term lending standing facilities PM | from 2 to 30 days | |
| Loans SM, repos SM | from 1 to 180 days | Bank of Russia key rate plus 175 b.p. |
| Special facilities: loans secured by guarantees of JSC Russian Small and Medium Business Corporation or by federal government bonds to support lending to small and medium-sized enterprises |
up to 3 years | the Bank of Russia key rate less 150 bp. |
| loans secured by credit claims on agreements backed by insurance contracts of JSC EXIAR | up to 3 years | the lower of the two values: 6.50% p.a. or the Bank of Russia key rate |
| loans secured by credit claims on agreements for investment projects | up to 3 years | the lower of the two values: 9.00% p.a. or the Bank of Russia key rate less 100 bp. |
PM — the Primary mechanism of liquidity provision, SM — the Supplementary mechanism of liquidity provision.
Department responsible for publication:
Monetary Policy Department
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Last updated on: 27.10.2023