Category: Центральный банк России

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Financial News: Marketplace Sellers Are Actively Using Loans from Microfinance Organizations for Entrepreneurial Finance

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

In the first half of 2025, businesses received 29% more microloans from microfinance organizations (MFOs) providing entrepreneurial financing than the previous year. The main driver of this growth was active lending to sellers on marketplaces.

This business segment accounts for 44% of loans issued by this category of MFIs. Sellers typically borrow money for short terms to cover cash flow gaps. These loans are quickly repaid, significantly increasing the MFIs' disbursement volume. At the same time, they have a smaller impact on portfolio growth, as the average receipt for them is significantly lower than in other business segments.

The MFI portfolio continues to be dominated by larger loans aimed at financing socially significant projects within the framework of state programs to support small and medium-sized enterprises (SMEs). Planned increaseIncreasing the maximum microloan amount for businesses from 5 million to 15 million rubles will allow entrepreneurs and companies to attract resources to scale their operations, which will contribute to the competitiveness of SMEs and create growth potential for this segment.

The business segment's loan portfolio maintains a high level of security: 70% of the portfolio is secured by collateral, sureties, or bank guarantees.

Read more in"Trends in the Microfinance Business Financing Market for the First Half of 2025".

Preview photo: Stock-Asso / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Informational Message on End of Support for the XBRL Questionnaire Editor Software

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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We inform you that technical support and further development of the XBRL Questionnaire Editor software will cease on September 30, 2026.

From the specified date:

New versions of the XBRL Questionnaire Editor software will not be published; updates, bug fixes, and support for this product will not be provided.

For compiling and verifying reports and other information in XBRL format, we recommend switching to the Converter software, which will continue to receive technical support and further development. The Converter software offers comparable functionality.

You can download the latest version of the Converter software, view the documentation and the training video atsection Software that implements the conversion of reporting data is the "Converter" software.

Questions regarding the operation of the Converter software should be sent to the address svch_sbrlnelp@kbr.ru in accordance withProcedure for applying users on issues related to the preparation and presentation of reports in XBRL format.

Any questions regarding the operation of the XBRL Questionnaire Editor software should be sent to svch_sbrlnelp@kbr.ru with the following mandatory conditions:

The subject of the email must indicate "Using the XBRL Questionnaire-Editor software" and the financial market sector to which the organization generating the request belongs. The email with the request must contain contact details indicating the organization, phone number, email address and responsible person, as well as the following information: Version of the XBRL Questionnaire-Editor software. Versions of other software samples mentioned in the error description. Description of the error. Step-by-step description of the actions to reproduce the error. Expected result. Actual result. Screenshots and graphical explanations of the described problem in the *.jpg, *.png, *.bmp formats. Materials used to reproduce the error, as attachments to the email: downloadable XBRL file; downloadable CSV file; downloadable txt file; generated XBRL file; generated reporting package in XBRL format; verification log; data download log in the appropriate format (CSV, XLSX or XBRL); reporting package with the *.ank extension; Excel templates for automatic data loading or unloading. The application.log file can be downloaded from the Help/About section. Frequency of occurrence of the problem. Problem severity. XBRL taxonomy version. XBRL taxonomy entry point. Name of the table in which the problem occurs. System configuration: operating system, including the operating system bit depth; amount of RAM; processor model with clock speed.

Responsible structural unit: Department of Data, Projects and Processes

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Inclusion in the Unified Register of Investment Advisors (out-of-the-box solution for financial institutions)

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Members of the management bodies and employees cannot be (paragraph 1 of Article 10.1 of Law No. 39-FZ):

Persons who acted as the sole executive body at the time the organization committed violations for which licenses for the relevant types of activities were cancelled (revoked), or violations for which the said licenses were suspended and the said licenses were cancelled (revoked) due to failure to correct these violations, if less than three years have passed from the date of such cancellation (revocation). Persons who acted as the head of a branch of a foreign insurance organization at the time the organization committed violations in the activities of such branch for which the foreign insurance organization's license to conduct insurance activities was revoked, or violations for which the said license was suspended and the said license was revoked due to failure to correct these violations, if less than three years have passed from the date of such revocation. Persons in respect of whom the period during which they are considered subject to an administrative penalty in the form of disqualification has not expired. Persons who have an unremoved or outstanding criminal record for committing an intentional crime.

The founders (participants) cannot be (clause 1 of Article 10.1-2 Law No. 39-FZ):

individuals who have an unremoved or unexpunged conviction for committing an intentional crime.

Requirements for the organizational and legal form (clause 1 of Article 10.1-1 Law No. 39-FZ):

business company; a legal entity created in a different organizational and legal form (in cases stipulated by federal laws).

To the internal control system – paragraph 2 of Article 10.1-1 Law No. 39-FZ

To the risk management system – paragraph 4 of Article 10.1-1 Law No. 39-FZ

Measures to identify conflicts of interest – paragraph 5 of Article 10.1-1 Law No. 39-FZ

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Inclusion in the Unified Register of Investment Advisors (ERIS) (out-of-the-box solution)

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Members of the management bodies and employees cannot be (paragraph 1 of Article 10.1 of Law No. 39-FZ):

Persons who acted as the sole executive body at the time the organization committed violations for which licenses for the relevant types of activities were cancelled (revoked), or violations for which the said licenses were suspended and the said licenses were cancelled (revoked) due to failure to correct these violations, if less than three years have passed from the date of such cancellation (revocation). Persons who acted as the head of a branch of a foreign insurance organization at the time the organization committed violations in the activities of such branch for which the foreign insurance organization's license to conduct insurance activities was revoked, or violations for which the said license was suspended and the said license was revoked due to failure to correct these violations, if less than three years have passed from the date of such revocation. Persons in respect of whom the period during which they are considered subject to an administrative penalty in the form of disqualification has not expired. Persons who have an unremoved or outstanding criminal record for committing an intentional crime.

The founders (participants) cannot be (clause 1 of Article 10.1-2 Law No. 39-FZ):

individuals who have an unremoved or unexpunged conviction for committing an intentional crime.

Requirements for the organizational and legal form (clause 1 of Article 10.1-1 Law No. 39-FZ):

business company; a legal entity created in a different organizational and legal form (in cases stipulated by federal laws).

To the internal control system – paragraph 2 of Article 10.1-1 Law No. 39-FZ

To the risk management system – paragraph 4 of Article 10.1-1 Law No. 39-FZ

Measures to identify conflicts of interest – paragraph 5 of Article 10.1-1 Law No. 39-FZ

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Establishing an Insurance Company as an LLC

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

1. Study the necessary federal laws and regulations.

2. Check the organization's compliance with the requirements for authorized capital.

To do this, follow these guidelines: By Bank of Russia Instruction No. 6171-U dated June 28, 2022 "On establishing a list of documents confirming compliance with the requirements for the authorized capital of an insurance organization, a list of documents confirming the sources of origin of property contributed by founders (shareholders, participants) of an applicant for a license to carry out insurance and (or) reinsurance to the authorized capital, and requirements for such information and documents."

Minimum authorized capital Types of insurance activities
300,000,000 rubles Voluntary personal insurance, with the exception of voluntary life insurance and/or voluntary property insurance and/or other types of insurance provided for by federal laws on specific types of compulsory insurance.
450,000,000 rubles Voluntary life insurance or voluntary life insurance and voluntary personal insurance, excluding voluntary life insurance.
600,000,000 rubles Reinsurance, as well as insurance in combination with reinsurance.
120,000,000 rubles For insurance companies providing exclusively compulsory medical insurance.

3. Check officials for compliance with legal requirements.

The list of persons, as well as qualification and other requirements for these persons are provided for in Article 32.1 Law No. 4015-1.

To perform the check, we recommend using:

4. Select a unique name and include it in the legal entity's charter and the Unified State Register of Legal Entities.

To check the names already in use, we recommend using unified state register of insurance entities. It is also necessary to comply with the naming requirements specified in Article 4.1. Law No. 4015-1.

The name must contain The organizational and legal form of the insurance entity.
The type of activity of the subject of the insurance business using the words “insurance”, “reinsurance”, and derivatives of these words.
A designation that individualizes the subject of insurance business.
An indication that the joint-stock company is public (for public joint-stock companies).

In the event that the insurance supervisory authority refuses to issue a license or returns an application for a license, a legal entity whose name contains the words “insurance,” “reinsurance,” or their derivatives is required to exclude them from its name and make appropriate changes to its charter or resubmit the documents within 90 working days from the date of the relevant decision.

5. Pay the state fee for performing legally significant actions.

The state duty amount is 7,500 rubles.Details for payment of state duty

In order to minimize errors when entering information, we recommend using Payment order designer.

6. Activate personal account of an information exchange participant and send a set of documents to the Bank of Russia.

7. Obtain a license to carry out insurance and reinsurance.

When making a decision on issuing a license, information about the subject of the insurance business is entered intoUnified State Register of Insurance EntitiesThe license is valid from the day following the day the Bank of Russia makes a decision to issue it.

The license for insurance and reinsurance in the form of an extract is sent through the personal account.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: The Bank of Russia has cancelled the vote to select symbols for the new 500-ruble banknote.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia has decided to cancel the vote on the selection of symbols for the new 500-ruble banknote.

We've encountered numerous attempts to use technical means to inflate the number of votes for certain objects. This will prevent us from drawing up objective voting results.

New voting dates will be announced later. The list of voting symbols will remain the same.

Based on the analysis of all voting channels, we will propose new conditions that will eliminate the possibility of unfair practices.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Information on the operation of the Bank of Russia payment system on November 3, 2025 (October 9, 2025)

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia payment system will operate according to schedule on November 3, 2025.

Schedule of the functioning of the Bank of Russia payment system on November 3, 2025

p/p

Procedures performed during the day

Start time

End time
1 Preliminary session of the Bank of Russia payment system 00:00 Moscow time 01:00 Moscow time
2 Regular session of the Bank of Russia payment system 01:00 Moscow time 9:00 PM Moscow time
2.1 Standard period of a regular session of the Bank of Russia payment system 01:00 Moscow time 8:00 PM Moscow time
2.2 The settlement period for a regular session of the Bank of Russia payment system 8:00 PM Moscow time 9:00 PM Moscow time
3 The final session of the Bank of Russia payment system 9:00 PM Moscow time No later than 10:00 PM Moscow time
4 The period of operation of the fast payment service The operating period of the fast payment service, established by the rules of the Bank of Russia payment system, remains unchanged (24 hours a day)

When using the material, a link to the Press Service of the Bank of Russia is required.

October 9, 2025, 1:10:39 PM

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Monetary conditions remained tight in August and September

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Nominal interest rates in the money and bond markets rose significantly in September after declining in previous months. At the same time, inflation expectations among both businesses and households declined slightly. This also contributed to the tightening of monetary conditions compared to August.

Interest rates on loans and deposits declined in August amid the ongoing transmission of the previously implemented monetary easing. A slight recovery in corporate and retail lending continued in August. However, by the end of September, credit growth to the economy moderated again, and monetary aggregate growth slowed.

For more details, read the information and analytical commentary. "Monetary conditions and monetary policy transmission".

Preview photo: Rawpixel / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Over 1 million people voted for the symbols for the 500-ruble banknote.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

More than 1.1 million people have already participated in the online vote for symbols for the 500-ruble banknote dedicated to the North Caucasus Federal District.

The leading Pyatigorsk landmarks chosen for the banknote's front side include the Academic (Elizabeth) Gallery, a sculpture of an eagle tearing a snake, Mount Beshtau, and the Lermontov Gallery. Among the symbols of the North Caucasus Federal District's regions chosen for the back side, Mount Elbrus, Grozny City, and the Derbent Fortress received the most votes.

"We're not choosing a single main symbol," explains Sergey Belov, Deputy Chairman of the Bank of Russia. "It's important for us to understand people's favorite places and monuments in the North Caucasus Federal District, what they associate with this land, so we can use these symbols in the banknote design. The vote winners could either be the centerpiece or a secondary decoration."

The Bank of Russia will announce the final results on October 14 at 12:00 Moscow time.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: In September, the influx of private investment in stocks and OFZs increased.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

In September, the stock market entered a correction amid lower expectations for corporate profit growth and a reassessment of key rate expectations. This increased the attractiveness of stock prices, resulting in the inflow of household funds into the stock market rising to 74.5 billion rubles. The population also increased new investments in OFZs, reaching 61.4 billion rubles.

The ruble weakened slightly in September but remained within its fluctuation range over the past six months. Despite the growing share of ruble revenue, net sales by exporters fell by 21%, while foreign currency sales by foreign companies, Russian banks, and non-credit financial institutions increased.

Read more in the next issue. Review of Financial Market Risks.

Preview photo: AVNik / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.