ING in Russia

ING in Russia

Money market (MM) deposits

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.

 

Trade pre-requisites:

  • 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.