On Bank of Russia adjustment ratios

Starting 15 April 2015, the adjustment ratio of market value of Russian regional, municipal and corporate bonds of resident companies, including bonds of the open joint-stock company Agency for Housing Mortgage Lending, and mortgage-backed bonds, when calculating the value of collateral on Bank of Russia loans are as follows:

at the rate of 0.98:

for Russian regional and municipal bonds;

at the rate of 0.95:

for bonds of the open joint-stock company Agency for Housing Mortgage Lending, corporate bonds of Russian resident companies, whose issuers (issues) are internationally rated at the level of at least BB+ under the classification of Standard & Poor’s or Fitch Ratings or Ba1 under the classification of Moody’s Investors Service;

at the rate of 0.9:

for corporate bonds of Russian resident companies, whose issuers (issues) are internationally rated at the level of at least BB- under the classification of Standard & Poor’s or Fitch Ratings or Ba3 under the classification of Moody’s Investors Service, and at the level below BB under the classification of Standard & Poor’s or Fitch Ratings or Ba2 under the classification of Moody’s Investors Service;

for mortgage-backed bonds;

at the rate of 0.8:

for corporate bonds of Russian resident companies, whose issuers (issues) are internationally rated at the level of at least B- under the classification of Standard & Poor’s or Fitch Ratings or B3 under the classification of Moody’s Investors Service, and at the level below B+ under the classification of Standard & Poor’s or Fitch Ratings or B1 under the classification of Moody’s Investors Service;

for bonds of the open joint-stock company Agency for Financing of Housing Construction.

The Bank of Russia can set adjustment ratios different from the aforementioned for certain issues of securities.

The reference to the Press Service is mandatory if you intend to use this material.

15.04.2015 00.00.00