OREANDA-NEWS. May 26, 2008. From 1 August 2008 The Bank of Moscow will join the banks participating in the compilation of MosPrimeRate. MosPrime Rate is a key indicator on the interbank Russian rouble lending market. Moreover, the index serves as the basis for forming yields on a number of fixed-income instruments, as well as the benchmark for setting floating rates on loans to private customers and developing a range of derivatives.

"The Bank of Moscow has attained a market leadership position in interbank lending — we have been traditionally one of the major liquidity providers on the money market," said BoM’s Vice President Alexei Sytnikov. "The inclusion of The Bank of Moscow in the list of lending institutions that are involved in determining MosPrime Rate is evidence of the Bank’s high quality operation and reliability. Starting from 1 August 2008, the pool of financial institutions that contribute to fixing MosPrime Rate will comprise 10 banks."