Before you figure out how to determine the refinancing rate, you need to understand what this rate means in general and why you need it. In 1992, the Central Bank of Russia decided to streamline the issuance of loans to commercial banks. That is, if a bank does not have enough of its own resources to fulfill its obligations or to further issue loans to the population and organizations, it can “borrow” from the Central Bank. Certainly not free. The money is issued at an interest rate that is the same for everyone and is called the refinancing rate.
Instructions
Step 1
The refinancing rate is determined solely by the Central Bank and is published in all mass media. Tax payments are also tied to the refinancing rate. For example, individuals are required to pay tax on funds received in the form of savings on interest for the use of borrowed money. The size of the current refinancing rate determines the amount of interest and fines that organizations pay for late payment of taxes, or vice versa - which the tax inspectorate is obliged to reimburse the company in case of a delay in tax refunds.
Step 2
To find out the refinancing rate, just go to the website of the Central Bank of Russia. The most important economic information, including the value of the refinancing rate at the moment, is indicated on the main page of the site.
Step 3
If you need to find out the value of the refinancing rate for some past date, you can go from the main page to the corresponding section of the site (at the moment the information is located at: https://www.cbr.ru/print.asp?file=/statistics /credit_statistics/refinancing_rates.htm)
Step 4
Also, relevant and reliable information on the size of the refinancing rate can be found in reference and legal systems, for example, "ConsultantPlus", "Garant", "Glavbuh", "Referent", "Code". For example, in the SPS "ConsultantPlus" information on the refinancing rate can be found by clicking on the line "Discount rate of the Bank of Russia" in the start window of the system.
Step 5
You should be careful when determining the refinancing rate, as it constantly fluctuates. If in your case it is necessary to make a calculation for the periods during which the discount rate of the Central Bank changed, it is necessary to calculate the data in proportion to the number of days during which this or that refinancing rate was in effect.
