Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
The Bank of Russia will switch to holding weekly repo auctions instead of deposit auctions from April 15, 2025. This is due to the expected further decline in the structural surplus and the transition of the banking sector to a liquidity deficit, as well as the existing structure of demand from credit institutions in the money market.
The weekly repo auction on April 15, 2025 will be held in accordance with graphics with the first part of the transactions to be executed on April 16, 2025, and the second part on April 23, 2025. The maximum amount of funds provided at the auction will be set on April 15, 2025. The auction schedule and parameters will be available on the pages of the Bank of Russia website “Schedule of repo operations in rubles” And“Parameters of repo auctions in rubles”.
In case of a significant change in the dynamics of liquidity formation factors or growth in demand from banks for permanent loans, the Bank of Russia may need not only to provide but also to absorb liquidity. If a decision is made to hold a deposit auction for a period of 1 week instead of a repo auction, the relevant information will be published on the website no later than the working day preceding it. At the same time, the Bank of Russia, as before, will strive to hold weekly auctions for liquidity management in one direction – repo or deposit auction.
The system of monetary policy instruments of the Bank of Russia will remain unchanged. Banks will still have access to all standing operations for both providing and absorbing liquidity. Also, at the end of the periods of averaging of mandatory reserves, the Bank of Russia will continue to hold “fine-tuning” auctions in the direction and in the volume necessary for banks to meet mandatory reserve requirements.
The Bank of Russia will continue to monitor the liquidity situation in the Russian banking sector and, taking this into account, will adjust the volumes of operations to provide or absorb liquidity. The purpose of the Bank of Russia’s operations is to maintain money market rates close to the key rate while maintaining a sufficient level of market activity in the interbank money market.
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