ING Commercial Banking in Russia capabilities:
- Fixed rate deposit.
- Dual currency deposits
- Currencies: USD, EUR and RUB; other currencies at request.
- Tenors: from overnight.
- MOSPRIME-based and LIBID-based deposits.
- Local master agreement.
Dual currency deposits
- These deposits earn improved interest rate which is paid on condition that at maturity deposit amount can be paid in pre-agreed alternative currency at pre-agreed FX rate at the Bank's discretion.
- Designed for clients that have operational needs in two currencies and assume that no FX conversion of alternative currency into original one will take place.
- The improvement interest rate is determined by selected FX rate.
- For deposit in USD with conversion into RUB – if one business day before maturity date spot rate is equal or higher than pre-agreed FX rate, then deposit amount is paid in alternative currency. If spot rate is lower than pre-agreed FX rate, then deposit amount is paid in original currency. In both cases the client receives improved interest rate.
Vanilla deposits with floating interest rate
- Benchmark-linked Deposits:
- -For RUB: MOSPRIME – margin;
-For USD: LIBID – margin;
-More transparent pricing.
- Clients can place deposits in USD, EUR and GBP at the prevailing interbank rates.
- Clients can place RUB deposits with ING Bank at the prevailing interbank rates or at MOSPRIME –0.50%.
- For overnight tenor clients can place MOSPRIME-based deposits on the trade date till 12:00 Moscow time.
- For 1 week, 2 weeks, 1 month, 3 months, 6 months tenors clients can place MOSPRIME-based deposits one business day prior the trade date till 12:00 Moscow time as MOSPRIME for these tenors is fixed for value TOM. LIBID is not quoted benchmark. It is calculated as LIBOR - 1.125%
- For tenors from overnight to 1 year clients can place LIBID-based deposits two business days prior to the trade date till 14:00 (Moscow time) as LIBOR for these tenors is fixed with value spot.