30 Mar 2011 14:38

CB to hold direct 3-mth REPO auctions only once a month

MOSCOW. March 30 (Interfax) - The Central Bank of Russia has decided that, starting April 1, it will only perform direct REPO auctions for a period of three months only once a month and not on a weekly basis as done now, the CB said in a statement.

The bank said that this decision had been made in order to improve the mechanism for regulating liquidity in the banking sector.

The date of April direct REPO auction for three months will be made public later.

Market players have said that this instrument for providing liquidity has not been utilized by banks recently.