OREANDA-NEWS. On 29 April 2016, the Bank of Russia Board of Directors decided to leave unchanged interest rates on the specialised refinancing instruments.

In line with this decision, interest rates on the following instruments are set at 9.00% per annum:

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 loan agreements secured by insurance agreements of OJSC Export Insurance Agency of Russia (OJSC ‘EXIAR’);

loans secured by the pledge of receivables on loans extended to leasing companies.

In line with this decision, interest rates on the following instruments are set at 6.50% per annum:

loans secured by the pledge of receivables on loan agreements entered by JSC SME Bank

with credit or microfinance institutions and which are targeted for lending to small and medium enterprises;

loans secured by the surety of JSC Russian Small and Medium Business Corporation.

The interest rate on the Bank of Russia loans secured by the mortgages issued under the Military Mortgage Programme remains unchanged at 10.75% per annum.