Russia’s central bank has announced it will start holding direct repo operations and lombard auctions for periods of six and 12 months, in a move which could help ease the shortage of long-term banking sector liquidity.

‘The minimum interest rates for the above operations are set at 11.25 percent a year for six months (auctions), and 11.75 percent for 12 months,’ the central bank said in a statement.

Posted: 12|12|08 at 10:31 am. Filed under: Auction News.