OREANDA-NEWS. In compliance with the decision of the Bank of Russia Board of Directors of 22 December 2015, all the securities of Russian resident legal entities and Russian depository receipts of the shares of foreign legal entities included in the Bank of Russia Lombard List as of the date of this decision shall be excluded from the said List from 1 February 2016.

This decision is taken in view of a decline in the structural liquidity deficit of the banking sector, a reduction in credit institutions’ demand for Bank of Russia refinancing operations and the fact that banks have a considerable amount of unallocated collateral of more conventional types, eligible for Bank of Russia refinancing operations.

Up to the present moment, credit institutions have used negligible amounts of shares and depositary receipt of shares under Bank of Russia repos, therefore the exclusion of these securities from the Lombard List will not lead to any considerable slashing of potential collateral under Bank of Russia repos.

The Bank of Russia is conducting an ongoing monitoring of the availability of unallocated collateral in the banking sector to be used as collateral under its refinancing operations and is ready to promptly respond to any changes in the market situation.