In response to inquiries from credit institutions, the Bank of Russia has clarified the principles for compiling the Lombard List.
The Lombard List includes the securities the regulator is ready to accept as collateral backing credit institutions’ refinancing operations. Refinancing to banks is one of the main monetary policy instruments. Accordingly, putting securities on the Lombard List, the Bank of Russia seeks to achieve its monetary policy goals.
More details are available in the explanation on the Bank of Russia website.