Category: Economics

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Financial news: From April 1, 2026, the rules for calculating a borrower's debt burden will be clarified.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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Banks and microfinance organizations are gradually are crossing over more accurate methods of assessing the borrower's income to calculate his debt burden. In particular, in accordance with Bank of Russia Instruction No. 7286-U Starting April 1, bank statements can only be used to confirm wages, pensions, social benefits, and income from property rentals. Other account receipts will need to be supported by additional documents. For example, a borrower can provide a certificate of income from deposits or securities.

Furthermore, for salary clients, banks were able to use internal models approved by the Bank of Russia to evaluate sources of income other than salary. Banks did this, in particular, based on the individual's expenses. Starting April 1, the Bank of Russia will no longer accept such models for review. Models approved prior to this date will be available for use by banks for one year from the date of their approval. After this date, creditors will need to obtain supporting documents from salary clients to take into account other sources of income.

At the same time, banks and microfinance organizations will still be able to use a wide range of income documents obtained from government information systems or directly from the borrower, such as a personal income tax certificate or a salary account statement.

Starting April 1, it will no longer be possible to use self-issued documents to assess the income of individual entrepreneurs. However, individual entrepreneurs retain the right to issue salary certificates to their employees, and they will be able to confirm their own income using tax returns and income and expense records.

The simplified approach, in which borrowers declare their income on the bank's application without providing supporting documents, will also remain in place. However, this approach will be gradually curtailed. While lenders can currently factor in declared income up to the regional average per capita income according to Rosstat when calculating their debt burden, starting July 1, 2026, banks will be required to apply an additional 10% discount. Starting July 1, 2027, the simplified approach is planned to be completely abandoned, with only borrowers' officially confirmed incomes being considered.

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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 February, the corporate portfolio grew moderately, while mortgage lending slowed as expected.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Bank lending to companies (including bonds) increased by 0.6% in February (-0.4% in January). Significant budget payments restrained lending dynamics, as government contract executors had less need for financing.

The growth of household mortgage debt slowed in February to 0.2% (0.9% in January), mainly due to a significant reduction in loans issued under the Family Mortgage program after its terms were changed on February 1, 2026.

The consumer loan portfolio decreased by 0.7% (0.6% in January), primarily in the cash loan segment. Credit card use was also less active than in the previous month, when people had significant spending during the New Year holidays.

Household deposits in banks increased by 1.9% in February, following a seasonal decline in January (-1.4%). Legal entity deposits also increased by 2.7% (0.2% in January), but this increase is primarily due to companies paying a portion of their February taxes in early March.

In February, the sector earned 392 billion rubles, which is comparable to January's profit.

For more details, read the information and analytical material "On the development of the banking sector of the Russian Federation in February 2026".

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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: Admission of an insurance organization to the financial market in the form of a joint-stock company (JSC).

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 amount of 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: Changes to the trading schedule on the T2 Derivatives Market test site.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Dear users,

We inform you that, effective March 26, 2026, changes will be made to the schedule for the T2 Derivatives Market test site. The current version of the schedule is published on the Moscow Exchange website at https://www.moex.com/s438

Schedule polygon T 2:

Opening auction: 06:40:00 – 06:59:45 Morning trading session: 07:00:00 – 11:00:00 Main session: 11:00:00 – 12:30:00 Contract expiration 11:30:00 Evening session 12:30:00 – 14:00:00 Settlement price determination 12:30:00 Contract expiration 12:30:00 Evening settlement session 13:00:00 Mark-to-market clearing session 14:00:00 End of trading 14:00:00

Please note that the T2 Urgent Market test site will be decommissioned approximately by mid-April 2026. The exact date will be published later.

Contact information for media: 7 (495) 363-3232PR@moex.com

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 almost all regions of Russia, price growth slowed in February.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

In February, prices in 80 out of 85 regions increased less than in January.

The prices of fruits and vegetables increased more slowly, butter and fats continued to fall in price, and prices for milk and dairy products, cheese, tea and coffee, pasta and cereals decreased.

Non-food prices increased moderately on average. However, for a wide range of goods, prices in many regions even decreased or increased less sharply than a month ago. This affected, in particular, electrical goods and household appliances, communications equipment, tools and equipment, clothing and underwear, knitwear, and footwear. Meanwhile, in the services sector, international travel costs increased significantly, and prices for household and medical services continued to rise.

Annual inflation has declined in 65 out of 85 regions. The Bank of Russia will continue to pursue policies aimed at returning inflation to a stable and low level.

For more information on inflation in each region, please seeinformation and analytical materials.

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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: 03/25/2026, 16:46 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10B0T2 (RZhD 1P-39R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 25, 2026

16:46

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the National Credit Center (JSC) on March 25, 2026, 16:46 (Moscow time), the values of the upper limit of the price corridor (up to 135.77) and the range of market risk assessment (up to 1473.27 rubles, equivalent to a rate of 21.25%) of the security RU000A10B0T2 (RZhD 1P-39R) were changed.

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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Dmitry Chernyshenko and Vladimir Yakushev assessed the educational facilities of the United Russia People's Program in Nizhny Novgorod – the IT campus and technology park.

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Ahead of the United Russia party's reporting and program forum, "There Are Results!", in Nizhny Novgorod, Deputy Prime Minister Dmitry Chernyshenko commented on the development of the educational infrastructure of the Neimark IT campus and the Nizhpoligraf federal vocational education technology park.

"Currently, at the direction of our President Vladimir Putin, we are creating a constellation of 25 world-class campuses across the country. Work on them is being carried out as part of the national project 'Youth and Children.' Their construction is one of the key initiatives of the United Russia People's Program. Thanks to the party's support, funding has been allocated from the budget. I would like to note that the Volga Federal District is among the top three in terms of the number of such campuses. The Neimark IT campus will have 7,000 student places and nearly 5,500 residential spaces. This is a flagship educational institution not only for Nizhny Novgorod but for the entire Volga Federal District," the Deputy Prime Minister stated.

In September, 18 new hotels opened on the Neimark campus. Students and faculty are already living there in comfortable conditions, and training is underway in in-demand IT fields such as AI, telecommunications, information systems, and others. The campus is being developed in close collaboration with industrial partners. For example, Sber's GigaDoc is located there.

The campus infrastructure was also praised by Vladimir Yakushev, Secretary of the General Council of the United Russia party, Igor Komarov, Plenipotentiary Representative of the President of Russia in the Volga Federal District, and Gleb Nikitin, Governor of the Nizhny Novgorod Region.

"Currently, 25 campuses are at various stages of development, scheduled for completion by 2030. These campuses will provide us with opportunities to more actively develop science and introduce new technologies. And by creating this infrastructure, we will adequately respond to the technological challenges facing our country today," said Vladimir Yakushev.

Another important element of Nizhny Novgorod's educational infrastructure is the Nizhpoligraf Federal Technopark for Professional Education, which is being created at the behest of Russian President Vladimir Putin.

"Nizhpoligraf is being created under the 'Professionalism' federal project of the 'Youth and Children' national project. This technology park is a unique venue. Besides Nizhny Novgorod, the only other similar facility in Russia is in Kaluga. Thanks to the United Russia party, funding for the 'Professionalism' program was increased. The technology park is a talent pool for the secondary vocational education system of Nizhny Novgorod and the Volga Federal District. The creation of Nizhpoligraf meets the needs of young people. United Russia has received requests from them for participation in championships and accelerators. The technology park already hosts major events. Last year, the finals of the 'Professionals' championship took place," noted Dmitry Chernyshenko.

In collaboration with industrial partners, 21 laboratories have been established at the technology park, covering everything from mechanical engineering to IT. A total of 43 laboratories are planned, covering everything from the chemical industry to tourism. All of this is aimed at achieving the goal set by President Vladimir Putin of training one million specialists and skilled workers by 2028.

"Implementing the 'Professionalism' program is part of United Russia's popular program. Colleges' participation in the program allows us to upgrade our material and technical resources, which means we can train even more qualified specialists for leading industries and meet the real needs of businesses and the economy as a whole. Here, children have every opportunity to develop. Teachers also receive training at Nizhpoligraf—they receive practical training on the best equipment and internships at companies," noted Vladimir Yakushev.

Nizhny Novgorod Region Governor and Secretary of the Nizhny Novgorod Regional Branch of the United Russia Party Gleb Nikitin noted that the region is consistently developing an engineering culture and creating conditions for unlocking the potential of young professionals, which is particularly important for achieving the goals of the Decade of Science and Technology declared by Russian President Vladimir Putin.

"The Nizhny Novgorod Region is a major industrial and scientific center of the country, home to strong universities and a powerful engineering school. Thanks to federal support, we are creating a technology park at Nizhpoligraf and the Neimark IT campus—large-scale projects that will drive positive change. These are new hubs, bringing together thousands of talented young people who want to develop, build a career, and live in Nizhny Novgorod. By implementing such projects, the Nizhny Novgorod Region is affirming its educational, industrial, and cultural potential. We strive to ensure that Nizhny Novgorod residents perceive themselves as residents of a successful, leading region where even their boldest ambitions can be realized," noted Gleb Nikitin.

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: 03/25/2026, 14:49 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for security RU000A0JWTV5 (GTLK 1P-01) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

March 25, 2026

14:49

In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of PJSC Moscow Exchange by the NCC (JSC) on March 25, 2026, 14:49 (Moscow time), the values of the upper limit of the price corridor (up to 152.63) and the range of market risk assessment (up to 506.92 rubles, equivalent to a rate of 87.5%) for security RU000A0JWTV5 (GTLK 1P-01) were changed.

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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Marat Khusnullin: More than 30 cultural facilities are being built and renovated in Russia by the company "Ediny Zakaznik."

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

The Single Customer in Construction (SCC) is responsible for over 30 cultural facilities across the country. Furthermore, over the past five years, the company has completed and reconstructed 15 cultural facilities, including some that are nationally significant, reported Deputy Prime Minister and Chairman of the Supervisory Board of SCC Marat Khusnullin.

"The construction complex is undertaking extensive work to preserve national heritage and create comfortable conditions for cultural workers, who celebrate their professional holiday on this day. Among them, 33 cultural facilities are being built and renovated across Russia by the company 'Unified Customer in Construction.' For example, the restoration of the Polytechnic Museum in Moscow is ongoing, the Preobrazhenskaya Hotel on Solovki, circuses in Yekaterinburg, Tver, and Voronezh are being renovated, and the Kunstkamera complex in St. Petersburg is being renovated. Furthermore, such significant projects as the reconstruction of the Leo Tolstoy Museum-Estate 'Yasnaya Polyana' in the Tula Region and the construction of the Academician V.L. Yanin National Historical and Archaeological Center in the Novgorod Region are underway, among others," said Marat Khusnullin.

Among the completed projects are the K.E. Tsiolkovsky State Museum of the History of Cosmonautics in Kaluga, the new building of the Ryazan Historical and Architectural Museum-Reserve, the new building of the State Tretyakov Gallery on Kadashevskaya Embankment in Moscow, the new building of the Planet Ocean Museum of the World Ocean in Kaliningrad, the N.A. Rimsky-Korsakov St. Petersburg State Conservatory, the Sakhalin Museum Complex, the artistic production workshops of the Bolshoi Theater in Moscow, and the Volgograd Circus.

"Our company systematically implements projects to create and renovate cultural facilities across the country—from museums and theaters to circus infrastructure. We pay special attention not only to preserving the buildings' historical appearance but also to creating modern, comfortable conditions for spectators and industry workers. The Volgograd Circus reopened at the end of 2025 after renovation, and the reconstruction of the circus in Yekaterinburg is currently 55% complete. Specialists have already begun finishing the entrance area and preparing for the installation of new seating in the auditorium," noted Karen Oganesyan, CEO of the Unified Customer Production Company.

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: March 25, 2026. JSC KAVKAZ.RF will hold a deposit auction.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Parameters:

The deposit auction date is March 25, 2026. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 125,000,000. Placement period, days – 95. The date of depositing funds is March 26, 2026. The date of return of funds is June 29, 2026. The minimum placement interest rate, % per annum is 14.65. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 125,000,000. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open).

The Agreement is based on the General Agreement. Schedule (Moscow time). Preliminary bids from 3:00 PM to 3:10 PM. Competitive bids from 3:10 PM to 3:15 PM. The cutoff percentage may be set or the auction may be declared void by 3:30 PM. Additional terms and conditions

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.