On results of auction to provide 3-month loans secured by non-marketable assets at floating interest rate
On 9 February 2015, the Bank of Russia held an auction to provide loans secured by non-marketable assets at a floating interest rate.
The auction was attended by 23 credit institutions from 36 Russian regions. Bids offering interest rates in the range of 15.25% p.a. to 17.00% p.a. were submitted to the auction. The auction demand was 769.4 billion rubles.
As a result of the auction the cut-off rate was set at 15.25% p.a.
The interest rate on the loans provided was also 15.25% p.a.
The volume of funds provided as a result of the auction was 769.4billion rubles.
The maturity is 3 months (the settlement date — 11 February 2015, the maturity date — 13 May 2015). The type of the auction is a Dutch one. The maximum allotment amount is 1000.00 billion rubles.
The auction was held in compliance with Article 46 of Federal Law No.
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