On 15 September 2017, the Bank of Russia Board of Directors decided to reduce interest rates on some specialised refinancing instruments from 18 September 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 bonds placed for investment project funding and included in the Bank of Russia Lombard List;
loans secured by the pledge of receivables on loans extended to leasing companies, have been reduced to 7.50% 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 8.50% p.a.
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.
The article was first published by the Press Service of The Central Bank of the Russian Federation