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Wednesday, November 22, 2017

Bank of Russia credit market expands

A recent Bank of Russia report showed an expansion in the credit market.

The Bank of Russia's Interbank offered rate ranges from 6.26 percent for one day to 8.18 percent for 181 to 365 days. The actual credit rate ranges from 6.23 percent for one day to 7.32 percent for 181 to 365 days.

The Interbank actual credit rate for investment grade ranges from 6.07 percent for one day to 6.25 percent for two to seven days, the longest period available. The Interbank actual credit rate for B-grade ranges from 6.13 percent for one day to 7.13 percent for 181 to 365 days.

Turnover volumes on the Interbank actual credit rate range from 6,602,738 for one day to 9,019,578 for 181 to 365 days, and from 2,312,757 for one day to 49,935,000 for two to seven days.

The Bank of Russia was founded on July 13, 1990, and traces its history back to the State Bank of the Russian Empire, which issued a commemorative gold coin featuring Alexander II on its 150th anniversary in 2010.

Under Russian law, half of the central bank's profit has to be channeled into the federal government budget.