The Bank of Russia recorded the first structural surplus liquidity in the banking system. This was reported to journalists by the head of the Department of monetary policy of the Central Bank Igor Dmitriev, “Interfax”.
“We have Monday happened first tentative structural surplus of liquidity — RUB 26 billion, it is up to the end of the year may be unstable. From January he will be settled in the area, and consequently, economic preconditions for release OBR (Bank of Russia bonds. — ) somewhere in the beginning of the year should be,” — said Dmitriev.
According to him, the Central Bank will use OBR as a tool of attracting excess liquidity in a structural surplus.
Analysts “VTB the Capital” do not exclude temporary return of the banking system to liquidity shortage, according to a survey of the Bank. Soon, however, in their opinion, the surplus will really acquire a structural character. “We also believe that in the coming weeks, the Bank of Russia will carry out debut bonds”, — stated in the review published on 8 November.
Key parameters of the issue OBR, the Board of Directors of the Bank of Russia was determined on September 16. The regulator can issue bonds with maturities of three months, six months and a year. The coupon rate for the ARR will be equal to the level of the key rate of the Bank of Russia for each day of the coupon period. From 19 September, the key rate is at 10% per annum.
The final transition of the banking sector to the structural surplus liquidity, the Bank of Russia expects in 2017, stated in September, the head of the Central Bank Elvira Nabiullina.