On the results of the meeting between the financial market participants and the Bank of Russia the decision to prolong calculation and publication of the MosPrime Rate benchmark on a standard procedure till 30th June 2023 is accepted.
It was also decided to publish historical median spread between the MosPrime Rate and term versions of the RUONIA for the 5-years period according to the ISDA Fallbacks procedure.
Amendments to the RISDA regarding actions with derivatives in case of rejection from the MosPrime Rate approved by the financial market participants will be presented to the Bank of Russia till 31st August 2022.
Market participants are recommended to switch for the acting on the termination date contracts to the RUONIA term version according to the ISDA Fallbacks procedure with the rate definition in the end of the period adjusted for the spread, published on 30th December 2022.
On 27th July 2022 the Bank of Russia has distributed the informational letter with the recommendation to the banks to switch to the RUONIA term version for the terms of one, three and six months as a reference benchmark starting from 1st September 2022 for new credits under floating interest rates, as well as for other financial products. The letter is available on: http://www.cbr.ru/crosscut/lawacts/file/5959