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Russian cenbank says will hold “fine-tuning” repo auction on Friday -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Central Bank’s Moscow headquarters is covered by a Russian state flag on March 29th, 2021. Sign reads “Bank of Russia.” REUTERS/Maxim Shemetov//File Photo

MOSCOW (Reuters – Russia’s central bank said Thursday that it will hold a repo auction with a maximum limit of 2 trillion roubles ($23.03 Billion) on February 25th. This is part of its efforts to stabilize financial markets and increase liquidity in the banking sector.

Auctions of repo (or repurchase agreements) are intended to improve banks’ liquidity management capabilities. The central bank stated that they were sufficient at the moment. At an earlier repo sale on Thursday, 874 billion rubles were sold.

($1 = 86.8370 roubles)

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