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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