OREANDA-NEWS. On 11 June 2015, Bank of Russia held a 28 day auction to provide US dollar loans secured by the pledge of claim on US dollar loans to credit institutions.

The auction was attended by 2 credit institutions. Bids offering interest rates of 2.4390% p.a. were submitted to the auction. The auction demand was 441.0 million US dollars.

As a result of the auction the cut-off rate was set at 2.4390% p.a. The interest rate on the loans provided is 2.4390% p.a. The allotment amount on the auction results was 441.0 million US dollars.

The auction was held on the following terms:
The maturity is 28 days (the settlement date - 17 June 2015, the maturity date - 15 July 2015). The type of the auction is a Dutch one. The maximum allotment amount is 0.5 billion US dollars.

The auction was held in compliance with Article 46 of Federal Law No. 86-FZ, dated 10 July 2002, 'On the Central Bank of the Russian Federation (Bank of Russia)'.