On interest rates on the Bank of Russia specialised refinancing instruments
On 16 June 2017, the Bank of Russia Board of Directors decided to reduce interest rates on some specialised refinancing instruments from 19 June due to the reduction of the Bank of Russia key rate.
Interest rates on the following instruments:
loans secured by the pledge of receivables on loans extended to fund investment projects;
loans secured by the pledge of receivables on loans extended to leasing companies,
have been reduced to 8.00% p.a.
The interest rate on the Bank of Russia loans secured by the mortgages issued under the Military Mortgage Programme, has been reduced to 9.00% p.a.
In compliance with the decision of the Bank of Russia Board of Directors, the reduced interest rates shall be applied to loans previously issued under these instruments of the Bank of Russia from 19 June 2017.
Interest rates on the following instruments:
loans secured by the pledge of receivables on loan agreements entered by JSC SME Bank with credit institutions or microfinance organisations and which are targeted for lending to small and medium enterprises;
loans secured by the surety of JSC Russian Small and Medium Business Corporation;
loans secured by the pledge of receivables on loan agreements secured by insurance agreements of OJSC Export Insurance Agency of Russia (OJSC ‘EXIAR’)
have been maintained at 6.50% p.a.
In compliance with the decision of the Bank of Russia Board of Directors, if the interest rate on any of the above specialised refinancing instruments is revised downwards, the reduced interest rate shall also be applied to loans previously issued under these instruments of the Bank of Russia from the date as of which the said rate is revised.
The reference to the Press Service is mandatory if you intend to use this material.