Russian banks buy 83.6% of new 1T ruble floater at auction

Systemically important Russian banks absorbed 83.6% of a new 1 trillion ruble floating-rate bond at a September 2 auction, per the Bank of Russia's financial risk review. This indicates strong domestic demand for ruble floaters amid ongoing fiscal borrowing, but the concentration among major banks suggests limited external participation. The development underscores the state's reliance on domestic banking sector for funding.