IDEAS home Printed from https://ideas.repec.org/a/gai/recdev/recdev-2016-9-724.html
   My bibliography  Save this article

Bank of Russia liquidity management of the Banking sector: observations based on the past three years experience

Author

Listed:
  • Morgunov V.

    (Gaidar Institute for Economic Policy)

Abstract

Short-term money market interest rate management within the framework of symmetrical interest rate band is based on central bank open market operations that aim to compensate for a structural deficit and surplus of liquidity in the banking sector to make sure that the money market overnight interest rate is close to the middle of the interest rate band. The Bank of Russia practice in this form of management amid structural deficit of liquidity over the past three years has shown that the period average money market interest rate has been above the key interest rate by more than 0.5 percentage points in half of 14 key rate periods.

Suggested Citation

  • Morgunov V., 2016. "Bank of Russia liquidity management of the Banking sector: observations based on the past three years experience," Russian Economic Development, Gaidar Institute for Economic Policy, issue 9, pages 38-42, September.
    • Handle: RePEc:gai:recdev:recdev-2016-9-724
    as

    Download full text from publisher

    File URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-9-724.pdf
    File Function: Revised version, 2016
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Banking sector; Russian Economy;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gai:recdev:recdev-2016-9-724. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Olga Beloborodova (email available below). General contact details of provider: https://edirc.repec.org/data/gaidaru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.