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VTB launches new products in the interbank market

2 November 2011

Amid the current market volatility, VTB offers Russian banks a new service – Lending on the security of VTB bills, as well as better terms for opening correspondent accounts with the Bank. The services will allow Russian banks to address such pressing issues as securing counterparties’ reliability, mitigating investment risks, and gaining safe access to liquidity replenishment market resources.

Under the “Lending on the security of VTB bills” service, VTB offers funding at the interbank market interest rates for the term of 1 to 30 days in all core currencies. Loans shall be secured by VTB Bank bills. Shortly, shares and bonds issued by VTB and other issuers out of the Bank of Russia Lombard List shall also be eligible as security.

Simultaneously, VTB continues offering its customers to open correspondent accounts with the Bank allowing prompt and timely payments in all core currencies. Given a minimum balance amount remaining for a certain period agreed, higher interest rates shall apply to their correspondent account balances. This service has traditionally been popular with VTB customers due to the Bank’s wide correspondent network and VTB Group subsidiary banks abroad specializing in foreign currency settlement. 

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