Bank of Russia announced that 28 Nov, 2008 Board of Directors of the Bank of Russia within the framework of measures aimed at reducing the outflow of capital from Russia and the containment of inflationary pressures, has decided to raise the refinancing rate of the Bank of Russia and the interest rates on operations carried out by the Bank of Russia.
S 1 Dec., 2008 refinancing rate the Bank of Russia set at 13% per annum, as well as the following rates for transactions conducted by the Bank of Russia:
overnight bank loans to Russia - at a rate of 13% per annum;
by the Bank of Russia Lombard loans, provided under the terms of the Bank of Russia of 4 August 2003 number 236-P, for a period of 1 calendar day - at a rate of 10% per annum; for a period of 7 days in the event the last two Lombard credit auction for a period of 2 weeks (14 days) recognized as not - at a rate of 10% per annum; for a period of 30 calendar days - in the amount of 10.25% per annum;
Bank of Russia on loans secured by assets provided under the terms of the Bank of Russia from 12 Nov, 2007 number 312-P, for up to 90 calendar days - of 11% per annum;
Bank of Russia on loans secured by promissory notes, human requirements for credit organizations, treaties or guarantees of credit institutions, provided under the terms of the Bank of Russia dated 14 July 2005, number 273-P: up to 90 calendar days - at $ 11 % Per annum; for a term of 91 to 180 days - equivalent to 12% per annum;
Operations direct REPO: for 1 day - amounting to 10% per annum; for a period of 7 days - at a rate of 10% per annum;
transaction “currency swap” for one day (of the ruble) - at a rate of 13% per annum;
by the Bank of Russia deposit transactions conducted at fixed interest rates in line with the Bank of Russia Statute of 5 November 2003 number 203-P: the standard conditions “that's nekst”, “spot-nekst”, “on demand” — in the amount of 6.75% per annum; in the standard “one week”, “spot - Week” - amounting to 7.25% per annum.
minimal interest rates to provide liquidity for operations carried out on the basis of auction:
Operations direct REPO for 1 day - at a rate of 9% per annum;
Operations direct REPO for 7 days - of 9.5% per annum;
on Lombard credit for 14 days - in the amount of 9.5% per annum;
on collateral loans for 3 months - of 10.5% per annum;
for direct repo transactions for a period of 90 days - in the amount of 10.5% per annum.
Furthermore, in December 1, 2008 extended deadline lending bank credit organizations in Russia in accordance with the position of the Bank of Russia from 12 Nov., 2007 number 312-P from 90 to 180 calendar days. In doing so, the Bank of Russia loans granted for a term of 91 to 180 calendar days, can be achieved only guarantee “rating” of assets and the interest rate on fixed at 12% per annum.
Bank of Russia announced that 28 Nov, 2008 Board of Directors of the Bank of Russia within the framework of measures aimed at reducing the outflow of capital from Russia and the containment of inflationary pressures, has decided to raise the refinancing rate of the Bank of Russia and the interest rates on operations carried out by the Bank of Russia.
S 1 Dec., 2008 refinancing rate the Bank of Russia set at 13% per annum, as well as the following rates for transactions conducted by the Bank of Russia:
overnight bank loans to Russia - at a rate of 13% per annum;
by the Bank of Russia Lombard loans, provided under the terms of the Bank of Russia of 4 August 2003 number 236-P, for a period of 1 calendar day - at a rate of 10% per annum; for a period of 7 days in the event the last two Lombard credit auction for a period of 2 weeks (14 days) recognized as not - at a rate of 10% per annum; for a period of 30 calendar days - in the amount of 10.25% per annum;
Bank of Russia on loans secured by assets provided under the terms of the Bank of Russia from 12 Nov, 2007 number 312-P, for up to 90 calendar days - of 11% per annum;
Bank of Russia on loans secured by promissory notes, human requirements for credit organizations, treaties or guarantees of credit institutions, provided under the terms of the Bank of Russia dated 14 July 2005, number 273-P: up to 90 calendar days - at $ 11 % Per annum; for a term of 91 to 180 days - equivalent to 12% per annum;
Operations direct REPO: for 1 day - amounting to 10% per annum; for a period of 7 days - at a rate of 10% per annum;
transaction “currency swap” for one day (of the ruble) - at a rate of 13% per annum;
by the Bank of Russia deposit transactions conducted at fixed interest rates in line with the Bank of Russia Statute of 5 November 2003 number 203-P: the standard conditions “that's nekst”, “spot-nekst”, “on demand” — in the amount of 6.75% per annum; in the standard “one week”, “spot - Week” - amounting to 7.25% per annum.
minimal interest rates to provide liquidity for operations carried out on the basis of auction:
Operations direct REPO for 1 day - at a rate of 9% per annum;
Operations direct REPO for 7 days - of 9.5% per annum;
on Lombard credit for 14 days - in the amount of 9.5% per annum;
on collateral loans for 3 months - of 10.5% per annum;
for direct repo transactions for a period of 90 days - in the amount of 10.5% per annum.
Furthermore, in December 1, 2008 extended deadline lending bank credit organizations in Russia in accordance with the position of the Bank of Russia from 12 Nov., 2007 number 312-P from 90 to 180 calendar days. In doing so, the Bank of Russia loans granted for a term of 91 to 180 calendar days, can be achieved only guarantee “rating” of assets and the interest rate on fixed at 12% per annum.