Category: Central Bank of Russia

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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".

Preview photo: Leny Studio / 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: 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 –

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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.

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Financial News: Monetary Conditions Indicators Showed Retention of Achieved Tightness in May

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Nominal interest rates declined in May, but a renewed decline in inflation expectations helped maintain the achieved tightness of monetary conditions. However, the decline in nominal rates became more pronounced in June.

Operational estimates indicate a further decrease in interest rates on loans and deposits in June. Credit activity in the corporate and retail segments remained moderate. This restrained the growth of the money supply. The dynamics of monetary aggregates in June were comparable to May.

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

Preview photo: zhu difeng / 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: Ruble Strengthens Against Dollar in June, Stocks and Bonds Rise in Price

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The ruble rose against the US dollar for the seventh month in a row in June, while weakening slightly against the yuan. Demand for the currency from companies reached a year-low.

The softening of the Bank of Russia's rhetoric regarding the further trajectory of the key rate amid signs of slowing inflation supported the Russian financial market.

Yields on the OFZ and corporate bond markets continued to decline. Most major stock indices began to grow, with the Moscow Exchange Index up 0.7% over the month.

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

Preview photo: Jakub Zerdzicki / 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: Future rules on the IPO market: results of the discussion of the Bank of Russia report

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Bank of Russia defined prospects for regulating the IPO market after publicly discussing their initiatives. The proposed measures will contribute to the formation of best practices and improving the quality of IPOs.

The first part of the changes is aimed at adapting the information disclosed by issuers to the needs of investors. The summary of the securities prospectus will be transformed into a short and clear document, which reflects financial indicators in comparison with previous periods, a description of the company's development strategy, information on dividend policy and other key information. And the securities prospectus itself will need to include forecast indicators for the coming year.

Companies are also required to disclose information on the planned and actual distribution of shares among buyers, the existence of restrictions on the sale of securities by the issuer and current shareholders, as well as the mechanisms used to stabilize the price of shares to reduce their volatility after the IPO.

The regulator plans to establish a new listing condition. When entering an IPO, the issuer must submit at least two independent analytical reports with an assessment of the fair value of the company. They can be prepared by professional participants or audit organizations in the financial market. In their reports, they must reflect all the essential information about the company: the current position on the market and the results of activities, prospects and forecasts for development, possible risks. At the same time, they must justify the methodology of their assessment. As a result, retail investors will have access to high-quality analytics for making informed decisions.

For third-tier companies, additional guarantees of the reliability of information and the quality of the preparation of issue documentation will be attracted organizations providing services for the preparation of a securities prospectus and (or) the organization of placement. All changes are planned to be prepared by the end of 2025.

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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: MTPL: key facts.

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Performance indicators of insurers based on the Report on the structure of financial results by insurers

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Due to changes in the methodology for generating reporting indicators in Form 0420162 “Information on the insurer’s activities”, the amount of insurance premiums, starting with data for the first quarter of 2023, may not be fully comparable with the indicators for the comparative periods of the previous year. For a correct comparison of the volume of insurance premiums for reporting periods with similar periods of the previous year, information has been published on form 0420158 "Report on the structure of financial results by accounting groups".

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.