Aggregated News From Investment Management Regulators

Russia

Banks’ loan agreements with developers total over 4 trillion rubles

Project financing in equity housing construction continued to trend upwards in June 2021.

Nearly 150 financial pyramids detected by Bank of Russia in 2021 H1

In January—June 2021, the Bank of Russia revealed 146 financial pyramids, which is 1.5 times more year-on-year, according to the Bank of Russia’s publication.

Activity of provisional administration to manage ROSCOMSNABBANK (PJSC) terminated

On 28 July 2021, the Bank of Russia terminated the activity of the provisional administration1 appointed to manage credit institution ROSCOMSNABBANK (PJSC) (hereinafter, the Bank).

Development of Russian financial market over next three years: start of public discussion

The creation of favourable working conditions, the promotion of digitalisation, the launch of financial instruments for sustainable development and long-term financing of the economy, and the training and protection of novice retail investors are strategic areas for the development of the financial market. In its draft Guidelines for the Development of the Russian Financial Market in 2022–2024, the Bank of Russia outlined eight priority areas. The regulator considers it its most important function to create conditions for the development of the financial market, which is primarily achieved by ensuring price and financial stability in any economic conditions, as well as a high-quality competitive environment. This will enhance...

Bank of Russia Bulletin released

Bank of Russia Bulletin No. 52 (2292) of 28 July 2021 has been released.

Counterfeit money becomes less common: Bank of Russia’s statistics

Counterfeit money became less common in the Russian banking system in 2021 Q2.

Regulator sets credit rating levels for investing pension savings and pension reserves in central counterparties’ assets

At its meeting on 23 July 2021, the Bank of Russia Board of Directors decided to set the following credit rating levels for non-bank credit institutions acting as central counterparties, effective from 10 September 2021: ruA- on the national rating scale for the Russian Federation in the classification of the rating agency JSC Expert RA or A-(RU) on the national rating scale for the Russian Federation in the classification of ACRA JSC. The decision was made for the purpose of applying Paragraph 2 of Clause 3 of Article 18 and Subclauses 3 and 4 of Clause 3 of Article 24.1 of Federal Law No. 75-FZ, dated 7 May 1998, ‘On Non-governmental Pension Funds’.

Bank of Russia updates methodology for estimating household debt burden at macrolevel

The Bank of Russia amended the methodology for estimating household debt burden at the macrolevel by improving the accuracy of debt service ratio (DSR) calculation through the use of anonymous data of credit history bureaus with respect to individual loans and borrowers.

Results of monitoring of credit institutions’ maximum interest rates

The July 2021 results of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top ten credit institutions2 attracting the largest amount of household deposits are as follows:

Online press conference on Russian financial market development in next three years to take place on 28 July at 11:30

The press conference on the Guidelines for the Development of the Russian Financial Market in the next three years will be attended by Bank of Russia First Deputy Governor Sergey Shvetsov.

Pawnshop websites verification starts

Pawnshop websites in the Bank of Russia's register are now marked with a special sign in Yandex search results: a blue circle with a tick and the inscription ‘ЦБ РФ’ (the Bank of Russia) next to the pawnshop’s name.

Activity of provisional administration to manage SNBCO JSC Narat terminated

On 26 July 2021, the Bank of Russia terminated activity of the provisional administration1 appointed to manage Settlement Non-bank Credit Organization Joint Stock Company Narat, or SNBCO JSC Narat (hereinafter, the NCO).

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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