(MosPrime Rate, Moscow Prime Offered Rate) is one of the main indicators of the Russian money market, indicating the rate at which the leading commercial banks grant and raise Russian Ruble loans or deposits in the Moscow money market.
The rate has been calculated by the National Finance Association since 2005. The list of banks whose rates are used to calculate the MosPrime Rate is also formed by this organization, it must include at least 6 organizations and is reviewed at least once a year. For example, the MosPrime indicator can be calculated based on the rates of Alfa-Bank, Gazprombank, Sberbank of Russia, Raiffeisenbank, VTB, and other banks.
The MosPrime is calculated according to the interest rates set by banks on loans (deposits) for overnight, 1 week, 2 weeks, 1, 2, 3, and 6 months. The tenors are calculated starting from "tomorrow", except overnight rate. Accordingly, there are seven types of MosPrime indices:
1) MOSPRIME O/N
2) MOSPRIME 1W
3) MOSPRIME 2W
4) MOSPRIME 1M
5) MOSPRIME 2M
6) MOSPRIME 3M
7) MOSPRIME 6M
For example, MOSPRIME 2M is an indicative rate for granting Russian Ruble loans or deposits for a 2-month period.
The MosPrime Rate is calculated as the arithmetic average of rates that have been quoted by credit institutions involved in its compilation.
MosPrime Rate is updated every business day at 12:30 Moscow time.