Examples of using Refinancing operations in English and their translations into Russian
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Official
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Colloquial
Refinancing operations are conducted via an auction mechanism.
In structural operations, the National Bank may carry out longer-term refinancing operations.
Refinancing operations will remain very short term.
AMF has just started discussions with the Central Bank on how to stimulate refinancing operations in the mortgage industry.
Longer-term refinancing operations are usually executed in the form of variable rate tender.
In Latvia, bills of exchange legislation has been adopted enabling refinancing operations between the Central Bank and commercial banks.
During his speech yesterday, he said that the European Central Bank,as appropriate, ready to use another refinancing operations.
Along with its targeted longer-term refinancing operations and negative deposit rates for banks, the ECB hopes to flood Europe's banks with cash and encourage them to lend to consumers and businesses.
In exceptional circumstances, the National Bank may also execute longer-term refinancing operations through fixed rate tenders.
Under its Long Term Refinancing Operations(LTROs) it loaned €489 billion to 523 banks for an exceptionally long period of three years at a rate of just one per cent.
In fact, bank credit supply has continued to decline in some European economies even after the long-term refinancing operations.
In the euro zone, the European Central Bank has launched two longer-term refinancing operations since December 2011, which provided commercial banks with three-year loans at an interest rate of 1 per cent.
The legal framework, terms andconditions of specified credit operations are regulated under the Instruction No.220"On short-term refinancing operations.
According to the Scenario-Based Conditions-2030, it is retail deposits growth as well as refinancing operations that are going to be the main resource base for banks3.
The basic rate will be approved by the NBM Council of administration as the reference rate and will serve as the maximum rate on liquidity sterilization operations and,as the minimum rate on banks' refinancing operations, accordingly.
Broadly speaking, the ECB controls liquidity in the banking system via refinancing operations, which are basically repurchase agreements, i.e. banks put up acceptable collateral with the ECB and receive a cash loan in return.
Indeed, in recent years the Bank of Russia has minimized its monetary interventions in the market,with the result that its refinancing operations are now the main channel for money supply growth.
The National Bank of Moldova shall establish the base rate for refinancing operations- REPO rate, which shall have the role of indicating the interest rate of the monetary policy promoted by the National Bank of Moldova.
While asset price volatility andinterbank borrowing costs eased somewhat in early 2012, owing mostly to the long-term refinancing operations of the European Central Bank, Europe's financial sector remains very fragile.
Credit institutions' stronger demand for Bank of Russia refinancing operations amid limited volumes of the collateral base for repo operations resulted in bigger volumes of bidding and the frequency of 3-month auctions for loans secured by non-marketable assets.
Underpinned by initially strengthening industrial activity, strong demand from developing countries andoptimistic market sentiment following the European Central Bank's longer-term refinancing operations, the UNCTAD price index for three groups of commodities- all food, agricultural raw materials, and minerals, ores and metals- rose in the first quarter of 2012 from their lows in December 2011.
While, for example, longer-term refinancing operations succeeded in raising demand for sovereign debt and bringing down borrowing costs for some economies from crisis levels, the additional liquidity has not yet trickled down to the firm and consumer level and remains largely in the financial system.
Depending on the objectives, regularity and procedures, open market operations of the National Bank of Moldova are divided into the following categories:1 main operations- regular refinancing operations or, where appropriate, liquidity-absorbing operations, which play a pivotal role in achieving open market operations objectives of the National Bank, conducted weekly, based on standard tenders and with a maturity usually of one or two weeks.
In summer of 2014 the ECB decided to conduct a series of targeted longer-term refinancing operations(TLTROs) aimed at improving bank lending to the euro area non-financial private sector, excluding loans to households for house purchase, over a window of two years.
In Western Europe, the fading out of the stimulus from the long-term refinancing operations and the lack of further stimulus measures by the European Central Bank, despite weak economic activity, have led to upward pressure on the currency.
In addition to rate cuts,ECB also announced introduction of a series of targeted long-term refinancing operations for a total amount of €400bn and said that Securities Market Program purchases would not be sterilized going forward, providing additional liquidity to the market.
It took the additional step of offering unlimited three-year loans to banks,the long-term refinancing operation, while loosening collateral eligibility rules and reducing its reserve ratio.
Also in February, the European Central Bank conducted its second long-term refinancing operation, lending Euro529.5 billion to more than 800 borrowers.
The European Central Bank's long-term refinancing operation provided unlimited liquidity to the banking sector and its outright monetary transactions provided(conditional) backing for sovereign debt.
Long Term Refinancing Operation(LTRO) On 22 December 2011, the ECB started the biggest infusion of credit into the European banking system in the euro's 13-year history.