Debt repo of the Ministry of Finance of the Russian Federation

Abstract

Subject. This article discusses the issues related to debt repo of the Ministry of Finance of the Russian Federation. Objectives. The article aims to determine the characteristics of the debt repo mechanism of the Ministry of Finance of the Russian Federation. Methods. For the study, I used analysis and synthesis, special economic and mathematical methods, in particular, correlation-regression analysis, as well as a graphical method of presenting the results obtained. Results. The article reveals an exponential increase in the volume of public domestic debt and a decrease in government guarantees in the currency of the Russian Federation, as well as a sharper narrowing of the corridor of the growth rate of government guarantees in the currency of the Russian Federation than the growth rate of the volume of public domestic debt. The article also reveals the exponential growth of the volume of the federal loan bond market and the narrowing of the corridor of its growth rates in the context of the withdrawal from the market of government savings bonds with a fixed interest rate of coupon income. Conclusions. The debt repo mechanism of the Ministry of Finance of the Russian Federation can help the Government of the Russian Federation to abandon State guarantees in the national currency by ensuring the sustainability of the process of increasing the volume of public domestic debt and its acquisition by Russian banks through the expanding corridor of intraday loans provided by the Bank of Russia.