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Loans Readied
24 June 1994
MOSCOW -- The Central Bank announced Thursday that it will offer 160 billion rubles ($81 million) in three-month loans at its next credit auction on June 30. The minimum annualized interest rate on the loans will be 140 percent, 30 points lower than the state bank's official refinancing rate. Annualized three-month interest rates on the interbank credit market now range from 150 percent to 160 percent. The Central Bank began the credit auctions earlier this year in an attempt to liberalize the government's Soviet-era credit policy.
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