To maintain financial stability and ensure continuity of credit institutions’ operations, the Bank of Russia has decided to:
- Increase the intraday limit for Bank of Russia USD/RUB sell/buy FX swaps with ‘today/tomorrow’ settlements from 3 billion to 5 billion US dollars.
- Introduce Bank of Russia EUR/RUB sell/buy FX swaps with ‘today/tomorrow’ settlements. These operations will be performed on a daily basis in a similar way to USD/RUB sell/buy FX swaps. The interest rate for the euro leg under the said operations is equal to €STR plus 1.5 percentage points while the interest rate for the ruble leg is the Bank of Russia key rate minus one percentage point. The intraday limit for Bank of Russia EUR/RUB sell/buy FX swaps is 2 billion euros.
- Raise the maximum outstanding amount owed by credit institutions to the Bank of Russia on foreign currency repos from 15 billion to 50 billion US dollars. The Bank of Russia will make decisions on foreign currency repos as soon as necessary based on the current situation in financial markets.