Category: Центральный банк России

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Financial News: Institutions Should Be More Responsible About Stock Investing

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia has developed Code of Responsible Investment for banks, insurers, management companies, NPFs and other institutional investors who place funds in equity instruments. The regulator suggests that they adhere to a number of principles that will increase the return on investment not only through effective management of the securities portfolio, but also through active interaction with issuers.

Institutional investors are currently little involved in the corporate governance of joint-stock companies. The Code requires them to be more actively involved in the life of issuers in order to improve the long-term prospects of companies – primarily to help increase their shareholder value. When investing, "institutionalists" should pay attention primarily to companies that have adopted strategy to increase shareholder valueIf such a document does not exist, investors can exercise their corporate rights and encourage the issuer to develop it.

Those who adhere to the Code are required to publicly report annually on their compliance with these principles.

Compliance with the principles of the Code will contribute to the development of the equity capital market and increase the capitalization of the Russian stock market.

Preview photo: Sirtravelalot / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: What the trends say: Inflation is returning to target.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, the monthly growth of seasonally adjusted consumer prices slowed down, and in annual terms it was close to the inflation target. Inflation expectations of enterprises and the population decreased, and the growth of enterprise costs slowed. At the same time, price dynamics remain uneven across segments, and fixing inflation at the target level requires additional confirmation. A sustainable reduction in inflation to 4% and its stabilization at this level require maintaining tight monetary conditions for a long time.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Mass implementation of the digital ruble will begin on September 1, 2026

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The largest banks will have to be the first to provide their clients with the opportunity to use digital rubles: open accounts, make transfers, pay for purchases and services, and perform other transactions. Gradually, by September 2028, all banks will have this obligation. The corresponding law The State Duma adopted it today.

Trading companies that are clients of the largest banks and whose revenue for the past year exceeds 120 million rubles will also have to provide the ability to pay for goods and services in a digital form of the national currency from September 1, 2026.

Banks with a universal license and their clients — trading companies with annual revenue of over 30 million rubles — will have to start working with digital rubles from September 1, 2027. Other banks and sellers with revenue of less than 30 million rubles per year — from September 1, 2028. The obligation to accept payments in digital rubles will not apply to retail outlets whose annual revenue is less than 5 million rubles.

The law also sets the launch dates for a universal QR code based on the National Payment Card System (NSPK) solution. It will allow both buyers and sellers to significantly simplify the payment process without cards and avoid confusion when there are many QR codes at the checkout. The universal QR code can be used to access various payment options: the Fast Payment System, banking services or installment plans, and in the future, digital rubles. At the same time, the bonuses and discounts of the selected payment method are retained.

All banks must complete the preparation of their systems to work with the universal QR code by September 1, 2026. However, they can do it earlier if they wish.

NSPK will provide banks with a free universal QR code service. This will reduce their integration costs. The timeframes within which banks will be required to connect the universal QR code to sellers will be determined by the Board of Directors of the Bank of Russia.

Let us recall that digital rubles will be in circulation along with cash and non-cash. People will be able to create a wallet and use the digital national currency through the usual applications of banks connected to the digital ruble platform of the Bank of Russia. All transactions with the digital national currency for citizens will be free. The choice of whether to use digital rubles or not remains with the person.

Read more about the digital ruble on the website Bank of Russia.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Guarantee system for IIS-3.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

A system of guaranteeing property on individual investment accounts (IIA) of the third type will appear in Russia. It will be possible to count on compensation for assets in the event of bankruptcy of the professional participant who was engaged in maintaining the account. Such law adopted by the State Duma.

The compensation fund will be formed from voluntary contributions of professional participants who work with IIS and have joined the guarantee system. The operator of the system will be the currently operating Federal Public-State Fund for the Protection of the Rights of Investors and Shareholders, which will be renamed the Individual Investment Account Guarantee Fund. It will determine the amount of contributions and will be responsible for payments.

An affected investor may apply to this fund if he/she has not received his/her assets in full within 6 months after the professional participant has been declared bankrupt and bankruptcy proceedings have begun. The maximum compensation amount is 1.4 million rubles for all accounts opened with the bankrupt.

The law defines the specifics of participation in the guarantee system, the procedure for the formation of the compensation fund and the investment of its funds, and also establishes requirements for the structure and powers of the governing bodies of the system operator.

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Annual inflation falls for fifth month in a row.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In June, annual inflation decreased to 9.4%. Seasonally adjusted monthly price growth was 4.0% in annual terms. Differences in price dynamics by groups of goods and services remained significant.

The monthly increase in food prices has decreased. The rate of increase in meat prices has decreased the most, while fruits and vegetables have become cheaper faster than the seasonal norm. The growth in prices for household and medical services has slowed somewhat, but remains high. Prices for non-food products, excluding petroleum products, have not changed on average.

Despite the decline, annual inflation in June was still significantly above the target. The Bank of Russia intends to return it to 4.0% in 2026 and keep it close to this level in the future.

For more details, read the Bank of Russia's information and analytical commentary "Dynamics of consumer prices".

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Monitoring of enterprises: growth of business activity has slowed.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia's Business Climate Indicator (BCI) stood at 1.5 points in July, down from 3.0 points a month earlier. Current production and demand estimates, as well as short-term expectations, were below the June level. Business price expectations increased slightly after 6 months of decline. Companies' investment activity grew more slowly than in Q2 2025.

Read more in the July issue of the information and analytical commentary "Monitoring of enterprises".

Starting from this issue, the Bank of Russia will regularly publish data on the main indicators of enterprise monitoring by macroregions. In addition, survey data on types of economic activity and groups of enterprises in time series format are now available inData retrieval service (API).

Preview photo: Eric Romanenko / TASS

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Questions and Answers: Social Bank Deposit and Social Bank Account

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Updated: 18.03.2024

The following persons have the right to insurance compensation:

– small businesses;

— non-profit organizations (NPOs) that operate in one of the following organizational and legal forms:

a) property owners' associations;

b) consumer cooperatives, with the exception of financial institutions;

c) Cossack societies included in the register of Cossack societies;

d) communities of indigenous peoples of Russia;

d) religious organizations;

e) charitable foundations;

3) NPOs – providers of socially useful services that meet the requirements established by Federal Law No. 7-FZ of 12.01.1996 "On Non-Commercial Organizations", information about which is contained in the register of non-commercial organizations – providers of socially useful services.

From 25.03.2024, the deposit insurance system will also extend to:

1) medium-sized enterprises included in the relevant register, with the exception of entities that are credit institutions and non-credit financial institutions in accordance with the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”;

2) socially oriented non-profit organizations, as well as trade unions (trade union organizations).

3) lawyers, notaries and other persons carrying out professional activities provided for by federal law.

The maximum amount of insurance compensation will be 1.4 million rubles for accounts and deposits in one bank.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Methodological recommendations, including control ratios (NO AIF and UK, NO BKI, NO PURTSB, NO SD)

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The final XBRL taxonomy of the Bank of Russia (version 7.0), in comparison with the preliminary XBRL taxonomy of the Bank of Russia (version 7.0), contains architectural amendments to the supervisory and statistical reporting module, as well as control ratios of indicators of supervisory and statistical reporting of non-credit financial institutions, entities providing professional services in the financial market, and self-regulatory organizations in the financial market (hereinafter referred to as financial market participants).

The final XBRL taxonomy of the Bank of Russia (version 7.0) contains a finalized set of requirements for reporting data in terms of supervisory and statistical reporting for the following segments:

1) insurance organizations, mutual insurance societies, foreign insurance organizations (subject to the entry into force of the draft Bank of Russia instruction1);

2) non-state pension funds (subject to the entry into force of the draft Bank of Russia instruction2);

3) professional participants in the securities market, trade organizers, clearing organizations (subject to the entry into force of the draft Bank of Russia instruction3);

4) joint-stock investment funds, investment fund management companies, mutual investment funds, non-state pension funds (subject to the entry into force of the draft Bank of Russia instruction4);

5) specialized depositories (subject to the entry into force of the draft Bank of Russia instruction5);

6) credit rating agencies (subject to the entry into force of the draft Bank of Russia instruction6);

7) insurance brokers (subject to the entry into force of the draft Bank of Russia instruction7);

8) credit history bureau (subject to the entry into force of the draft Bank of Russia instruction8);

9) operators of investment platforms, operators of financial platforms, operators of information systems in which digital financial assets are issued, operators of digital financial asset exchange (subject to the entry into force of the draft Bank of Russia instruction9);

10) payment acceptance operators (subject to the entry into force of the draft Bank of Russia instruction10);

11) self-regulatory organizations in the financial market (submission in accordance with the current Bank of Russia Instruction dated 10.06.2024 No. 6744-U11).

The final XBRL taxonomy of the Bank of Russia (version 7.0) also contains a finalized set of requirements for reporting data on cash transactions (OKUD 0420011) (presentation in accordance with the current Bank of Russia Instruction dated 28.06.2024 No. 6789-U12) and requirements for reporting data of annual consolidated financial statements (presentation in accordance with the current Bank of Russia Instruction dated 20.07.2020 No. 5510-U13).

The specified version of the XBRL taxonomy of the Bank of Russia is intended for review.

In the future, it is planned to publish a corrective version of the final XBRL taxonomy of the Bank of Russia (version 7.1), which will include corrected control ratios and other targeted improvements, with a planned entry into force date of 01.01.2026.

Information about the pilot collection of test reporting will be provided additionally.

Please note that the final XBRL taxonomy of the Bank of Russia (version 7.0) does not contain requirements for the accounting (financial) reporting of non-credit financial institutions and persons providing professional services in the financial market.

1 The project of instructions of the Bank of Russia “On the Forms, Dates and Procedure of the Compilation and Presentation of the Reporting of Insurers to the Bank of Russia.” The project of the Bank of Russia “On Amending the Bank of Russia dated June 28, 2024 No. 6796-U”. and clearing organizations, as well as other information. ”4 Project of the Bank of Russia instructions“ On Amending the Bank of Russia dated October 5, 2022 No. 6292-U. ”Design of indicating the Bank of Russia“ On Amending the Bank of Russia dated September 27, 2022 No. 6270-U. ”The draft of the Bank of Russia instruction“ On the content of the reporting of the credit rating agency, the subject, form, form and form of terms and procedure, form, form and manner. its compilation and submission to the Bank of Russia. ”The project of instructions of the Bank of Russia“ On Amendments to the Bank of Russia dated June 28, 2024 No. 6795 ”.8 The draft Bank of Russia instructions“ On Amending the Bank of Russia dated September 27, 2022 No. 6267-U. ”9 Draft of the Bank of Russia instructions “On the procedure and the terms for the procedure and submission to the Bank of the reports of investment operators platforms, reporting of financial platforms operators, information systems operators in which digital financial assets are issued, digital financial assets exchange operators, reports of investment platform operators and the composition of the information included in them, financial platform operators, as well as the procedure for reporters of investment platforms, financial platform operators, and information operators. systems in which digital financial assets are issued, information exchange operators to the Bank of Russia information about persons who are entrusted with identification, simplified identification, updating information about customers, customer representatives, beneficiaries and beneficial owners .10 Project of the Bank of Russia “On the form, Preject of drawing up, terms and procedure for submitting to the Bank of Russia Bank reports of operators for receiving payments, on the procedure for the report of the Bank of Russia, information about persons who are entering the receipt of identification, updating information about clients, customer representatives, beneficiaries and beneficial owners .11 Bank of Russia indication dated 10.06.2024 No. 6744-U “On the content, forms, procedure and terms for compiling and submission to the Bank of Russia in the Bank of Russia Reporting of a self-regulatory organization in the field of the financial market. ”12 Bank of Russia indication dated 06.28.2024 No. 6789-U “On the forms, terms and procedure for drawing up and submission to the Bank of Russia reports on transactions with cash funds of individual non-credit financial organizations. ”13 Bank of Russia indication dated 20.07.2020 No. 5510-U“ On the Procedure and Dates for submission to the Russian Banking Bank Consolidated financial statements by organizations specified in paragraphs 2-5 of part 1 of Article 2 of the Federal Law of July 27, 2010 No. 208-ФЗ “On Consolidated Financial Reporting”.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Average daily turnover of the interbank loan (deposit) market and repo transactions

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In connection with the entry into force of the Bank of Russia Instruction of May 28, 2003 No. 1283-U “On the procedure for establishing by the Bank of Russia official prices for refined precious metals”, from July 7, 2003 the Bank of Russia introduced the following procedure for establishing official prices for refined precious metals (gold, silver, platinum and palladium).

Every working day, the Bank of Russia calculates official prices based on the fixing values for gold, silver, platinum and palladium on the London spot metal market in effect at the time of calculation, and converts them into rubles at the official exchange rate of the US dollar to the Russian ruble in effect on the day following the day the official prices were established.

Book prices are used for accounting purposes in credit organizations.

anizations, starting from the calendar day following the day of their establishment, and are valid until the new values of the accounting prices come into force.

By Bank of Russia Instruction No. 1284-U of 28 May 2003 "On the Recognition of Certain Regulatory Acts of the Bank of Russia as Invalid", the Bank of Russia Instruction No. 652-U of 30 September 1999 "On the Procedure for Calculating Quotations for the Purchase and Sale of Refined Precious Metals by the Bank of Russia in Transactions with Credit Institutions" (with amendments and additions), which determined the procedure for establishing prices for transactions for the purchase and sale of precious metals by the Bank of Russia on the domestic market, was cancelled.

Transactions for the purchase and sale of refined precious metals by the Bank of Russia on the domestic market will be concluded on market terms at prices that take into account the current situation on the world market and the level of risks of the Bank of Russia associated with fluctuations in world prices for refined precious metals.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Results of monitoring maximum interest rates of credit institutions (07/15/2025)

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

1 When determining the maximum interest rate for each credit institution:

— maximum rates on deposits available to any client (including potential ones) without restrictions and preconditions are taken into account. Deposits for selected categories of clients (pensioners, children) and purposes (for social and humanitarian purposes, etc.) are not considered;

— rates with capitalization of interest on the deposit are not taken into account;

— rates that apply under certain conditions (regular turnover on a bank card, constant minimum balance on a bank card, etc.) are not taken into account;

— combined deposit products, i.e. deposits with additional conditions, are not considered. Such additional conditions for calculating an increased interest rate may be, for example, the purchase of investment units for a certain amount, opening an investment account, registration of an investment or savings life insurance program, connection of an additional service package, etc.;

— deposits whose term is divided into periods with different rates are not considered.

The average maximum interest rate indicator is calculated as the arithmetic mean of the maximum interest rates of 10 credit institutions.

2 PJSC Sberbank (1481) – www.sberbank.ru, VTB Bank (PJSC) (1000) – www.vtb.ru, GPB Bank (JSC) (354) – www.gazprombank.ru, JSC Alfa-Bank (1326) – alfabank.ru, JSC Rosselkhozbank (3349) – www.rshb.ru, JSC "Bank Dom.RF" (2312) – domrfbank.ru, PJSC "Moscow Credit Bank" (1978) – mkb.ru, JSC "TBank" (2673) – www.tbank.ru, PJSC "Promsvyazbank" (3251) – psbank.ru, PJSC "Sovcombank" (963) – sovcombank.ru. The monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using information provided on the specified websites. The published indicator is indicative.

3 Average maximum interest rates on deposits: for a term of up to 90 days – 17.22%; for a term of 91 to 180 days – 17.39%; for a term of 181 days to 1 year – 16.93%; for a term of over 1 year – 15.08%.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.