OREANDA-NEWS. On 12 January 2015, the Bank of Russia held an auction to provide loans secured by non-marketable assets at a floating interest rate on the following terms:

The maturity is 3 months (the settlement date - 14 January 2015, the maturity date - 15 April 2015). The type of the auction is a Dutch one. The maximum allotment amount is 1,100.00 billion rubles.

The auction was attended by 29 credit institutions from 33 Russian regions. Bids offering interest rates in the range of 17.25% p.a. to 20.12% p.a. were submitted to the auction. The auction demand is 934.50 billion rubles.

As a result of the auction the cut-off rate was set at 17.25% p.a. The interest rate on the loans provided is also 17.25% p.a. The volume of funds provided as a result of the auction is 934.50 billion rubles.