OREANDA-NEWS. 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 attended by two credit institutions. Bids offering interest rates in the range of 1.9311% p.a. to 1,9325% p.a. were submitted to the auction. The credit auction demand was 451.0 million US dollars.

As a result of the credit auction the cut-off rate was set at 1.9311% p.a. The interest rate on the loans provided was also1.9311% p.a. The allotment amount was 451.0 million US dollars.

The 365-day credit auction was recognised as failed due to a single attending credit institution.

The auctions were held on the following terms:
The maturity is 28 days (the settlement date - 22 April 2015, the maturity date - 20 May 2015). The type of the auction is a Dutch one. The maximum allotment amount is 1.0 billion US dollars.
The maturity is 365 days (the settlement date - 22 April 2015, the maturity date - 21 April 2016). The type of the auction is a Dutch one. The maximum allotment amount is 1.0 billion US dollars.