The Bank of Russia begins operation repo and Lombard lending for 6 and 12 months

Bank of Russia has approved a proposal by its Committee on monetary policy to start operations repo and Lombard lending to an auction for a term of 6 and 12 months. On it informs Department external and public relations of the CBR. Minimum interest rate on these transactions are set at 11.25% APR for 6 months and 11.75% per annum for a period of 12 months. A schedule of these transactions will be set by the Bank of Russia, depending on the situation in financial markets.