OREANDA-NEWS. The Bank of Russia held credit auctions to provide US dollar loans secured by the pledge of claim on US dollar loans to credit institutions.

The 28-day credit auction was recognised as failed due to the lack of bids. The 365-day credit auction was attended by three credit institutions. Bids offering interest rates in the range of 1.4469% p.a. to 1.7500% p.a. were submitted to the auction. The credit auction demand was 949.7 million US dollars.

As a result of the credit auction the cut-off rate was set at 1.4469% p.a. The interest rate on the loans provided was also1.4469% p.a. The allotment amount was 949.7 million US dollars.

The auctions were held on the following terms:
The maturity is 28 days (the settlement date - 25 March 2015, the maturity date - 22 April 2015). The type of the auction is a Dutch one. The maximum allotment amount is 2.0 billion US dollars.
The maturity is 365 days (the settlement date - 25 March 2015, maturity date - 24 March 2016). The type of the auction is a Dutch one. The maximum allotment amount is 1.0 billion US dollars.