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Bank of Russia commentary on maximum allotment amounts at repo auctions

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The Bank of Russia has set the following maximum allotment amounts (limits) for credit institutions participating in ruble repo auctions scheduled for 12 October 2020:

  • for the one-month repo auction — 1 trillion rubles;
  • for the one-year repo auction — 400 billion rubles.

The current liquidity position of the Russian banking sector is sufficient. At the same time, the seasonal dynamics of factors shaping the banking sector liquidity is driven by diverse trends. The seasonal shift of budgetary expenditures to the last weeks of the year, together with the Russian Ministry of Finance actively placing OFZ in the primary market to finance these expenditures make short-time imbalances in the banking sector liquidity allocation possible. To provide credit institutions with greater flexibility in liquidity management for this period, the Bank of Russia decided to increase the limit for the one-month repo auction.

The limits at the subsequent repo auctions will be set in accordance with the dynamics displayed by the said factors.

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Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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