Organization responsible for index calculation: CBR
Index group description Moscow Interbank Bid Rate (MIBID) and Moscow Interbank Offer Rate (MIBOR) are calculated for each working day and every maturity as a simple average of daily bid/offered rates of contributing credit institutions for corresponding maturities. Maximal rates (10% of overall number of rates) and minimal rates (10% of overall number of rates) are excluded from the calculation base.
Moscow Interbank Actual Credit Rate (MIACR) is calculated for each working day and every maturity as a weighted average of interest rates on interbank loans given by contributing credit institutions (with appropriate correction to avoid double counting). Moscow Interbank Actual Rate on Credits to Banks with Investment Grade Credit Rating (MIACR-IG) is calculated for each working day and every maturity as a weighted average of interest rates on interbank loans given (with appropriate correction to avoid double counting) to banks with high credit rating (from Baa3 on Moody’s scale or BBB on Fitch and Standard&Poor’s scales and higher). Transactions with maximal rates (10% of overall volume of transactions) and transactions with minimal rates (10% of overall volume of transactions) are excluded from the calculation base.
Turnover volumes of overall interbank lending and interbank lending to banks with investment grade credit rating are calculated as the total volume of transactions included in the calculation base of MIACR and MIACR-IG rates, respectively.
Data source: daily reports of a sample of contributing credit institutions operating in the Russian money market (see the Bank of Russia Ordinance No. 2332-U, dated November 12, 2009, "On the List, Forms and Procedure for Compiling and Presenting Credit Institutions Reporting Forms to the Central Bank of the Russian Federation").
Included indexes MIBID - 1 day MIBOR - 1 day MIACR - 1 day MIBID - 2-7 days MIBID - 8-30 days MIBID: 31-90 days MIBID: 91-180 days MIBID: 181 days - 1 year MIBOR - 2-7 days MIBOR - 8-30 days MIBOR: 31-90 days MIBOR: 91-180 days MIBOR: 181days - 1 year MIACR - 2-7 days MIACR - 8-30 days MIACR: 31-90 days MIACR: 91-180 days MIACR: 181 days - 1 year
