Financial news: The RUSFAR indicator calculation methodology has been included in the register of Bank of Russia indicator administrators.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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On January 19, 2026, the Methodology for calculating the RUSFAR indicator, details of which were entered into the register of administrators of the Bank of Russia indicators on December 24, 2025, in accordance with the requirements of Federal Law No. 452-FZ of December 13, 2024, “On Administrators of Financial and Commodity Indicators,” as well as a new version of the Methodology for calculating indicators of the repo rate with the central bank, will come into force.

The methodology for calculating the RUSFAR indicator includes an algorithm for calculating the key indicator of the RUSFAR overnight repo market with settlements in rubles (indicator code – RUSFAR).

The RUSFAR indicator has been excluded from the new version of the Methodology for Calculating Indicators of the Repo Rate with the Central Bank, due to its separation into a separate methodology.

The calculation formulas for both the RUSFAR indicator and other indicators of the repo rate with the central bank remain unchanged.

The new versions of the documents can be found on the following pages:

Methodology for calculating the RUSFAR indicatorMethodology for calculating repo rate indicators with a central bank

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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.

Marat Khusnullin opened infrastructure facilities in the Chelyabinsk and Smolensk regions, and the Udmurt and Chuvash republics.

Translation. Region: Russian Federation –

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

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Deputy Prime Minister Marat Khusnullin opened several infrastructure facilities in the Smolensk region, the Udmurt Republic, and the Chuvash Republic, and also launched a tunnel boring machine for the construction of a metro tram in Chelyabinsk.

"This year, the national project 'Infrastructure for Life' has become our main focus for the next six years. Looking back on the year, we see that the construction industry is delivering impressive results. New road, transport, social, and utility infrastructure projects are being built in all regions. All of these projects are designed to create comfortable living conditions in the regions. The main goal is to ensure that people experience these positive changes. Today's projects represent only a small part of what is being done nationwide. However, they are nonetheless crucial for the development of specific regions and improving the quality of life for citizens. Today, we began drilling the first tunnel for the metro tram in the Chelyabinsk Region, a project being implemented at the direction of the President. In addition, we opened a new road overpass over railway tracks in the city of Vyazma in the Smolensk Region, a renovated bridge over the Lyp River in the Kezsky District of the Udmurt Republic, and completed the construction of a large kindergarten in the Chuvash Republic. Many thanks to everyone who participated in the implementation of these projects, including the regional teams, the Ministry of Construction, the Ministry of Transport, "To the Territorial Development Fund. Today's event is a shared achievement, the result of coordinated work," said Marat Khusnullin.

For example, in the Smolensk region, a new road overpass over the railway tracks in the city of Vyazma has opened to traffic. It was built quickly to replace an old overpass. It carries 16,000 vehicles per day. It is a vital artery connecting the city center with residential areas. This project will significantly improve accessibility for local residents and further stimulate improvements in road transportation in the region.

"Today, we are not only witnessing but also participating in a crucial event in the life of our region. The decision by the Russian Government to allocate funds for the construction played a decisive role in ensuring that the new facility was built in the shortest possible time. The residents of Vyazma and Smolensk express their deepest gratitude to Marat Shakirzyanovich personally for his support. Without it, it would have been extremely difficult for the region to cope with this colossal task alone, using only its own resources. I once again sincerely thank the road workers, communications workers, gas workers, medical personnel, Russian Railways employees, the Ministry of Emergency Situations, and volunteers—everyone who worked on the new overpass construction site," noted Smolensk Region Governor Vasily Anokhin.

The first metro tram tunnel excavation has begun in the Chelyabinsk region. Infrastructure loans were used to finance the construction of the over 9-kilometer North-South line.

"Today is a very important day for the entire Chelyabinsk region – we are launching a key stage of our comprehensive Chelyabinsk metrotram infrastructure project: we are beginning the excavation of horizontal tunnels. We are creating the transport framework of the Chelyabinsk agglomeration for decades to come," emphasized Chelyabinsk Region Governor Alexey Teksler.

A 7,500-square-meter kindergarten has been completed in the Chuvash Republic. It was built in the "Novy Gorod" residential area of Cheboksary, also using a budget infrastructure loan. The new kindergarten will feature a gym, a music room, a sensory room, water and sand rooms, a culinary and craft workshop, a petting zoo, and other special spaces.

"Thank you, President Vladimir Putin. Despite all the difficulties, we managed to maintain the budget and formulate plans for the next three to five years. Therefore, our goal is to implement everything we have planned. Thank you to Prime Minister Mikhail Vladimirovich—we are in constant communication with him. Thank you to everyone who worked on this project. You demonstrated the highest level of professionalism and provided an excellent pre-New Year's gift for our residents. New projects and tasks lie ahead as part of the national project 'Infrastructure for Life.' The well-being of our citizens and the development of the country's economy largely depend on the results of your work. Therefore, we must not relax. Only forward, to new victories," said Oleg Nikolaev, Head of the Chuvash Republic.

A renovated bridge over the Lyp River in the Kezsky District of the Udmurt Republic has opened to traffic. The reconstruction has increased capacity, lifted load restrictions, improved traffic safety, and improved transportation for local residents.

"The reconstruction of the bridge across the Lyp is an important project for all of Udmurtia. It's about the safety of our children—two school routes cross the bridge. It's also about economic development. The region has strong agricultural enterprises. They desperately need the bridge to transport animal feed and deliver milk to processors. Udmurtia ranks fourth in the country for milk production. It also supports domestic tourism. A route to one of our ethno-resorts runs through here. This year, 3,000 tourists visited it. We're confident there will be even more," noted Roman Efimov, Chairman of the Government of the Udmurt Republic.

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Financial news: 12/26/2025. Change in parameters of 22,025,455 of the Federal Treasury.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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Application selection parameters;

Application selection date is 26.12.2025. Unique application selection identifier is 22,025,455. Deposit currency is rubles. Type of funds is the Unified Treasury Account. The maximum amount of funds placed on bank deposits, in monetary units is 210,000,000,000. Placement period, in days is 4. Date of depositing funds is 26.12.2025. Date of return of funds is 30.12.2025. Interest rate for placing funds (fixed or floating) is FIXED. Minimum fixed interest rate for placing funds, % per annum is 15.28. Basic floating interest rate for placing funds is the Minimum spread, % per annum. Terms and conditions of concluding a bank deposit agreement (term, replenishable or special) is Term. The minimum amount of funds placed for one application, in monetary units, is 1,000,000,000. The maximum number of applications from one credit institution, pcs. 2. Application selection form (Open with random completion, Closed, Open with extension). Open with random completion. Application selection schedule (Moscow time). Venue for application selection: Moscow Exchange. Applications will be accepted from 6:30 PM to 6:40 PM. Applications in preliminary mode from 6:30 PM to 6:35 PM. Applications in competition mode from 6:35 PM to 6:40 PM. Random trading end period (sec.): 120 Bid increment:

Time step (sec.):

Extension period end time:

Formation of a consolidated application register from 6:42 PM to 7:00 PM. Setting the cutoff interest rate and/or declaring the application selection unsuccessful from 6:42 PM to 7:10 PM. Sending an offer to credit institutions to conclude a bank deposit agreement from 7:10 PM to 7:20 PM. Receipt of acceptance of the offer to conclude a bank deposit agreement from credit institutions:

The time of transfer of the deposit in accordance with the requirements of paragraphs 63 and 64 of the Order of the Federal Treasury dated April 27, 2023 No. 10n

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Financial news: Moscow Exchange index calculation schedule for the 2025-2026 New Year holidays.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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The Moscow Exchange has determined the schedule for calculating indices during the New Year public holidays.

On the official holidays of January 5, 6, 8 and 9, 2026, the calculation of stock indices, bond indices, crypto indices and currency fixings will be carried out in the standard mode – these days are trading days for the markets of the corresponding financial instruments according to Moscow Exchange trading schedule in 2026.

On December 31, 2025, January 1–4, 7, and 10–11, 2026, the indices will not be calculated due to the lack of trading on the Moscow Exchange markets.

From December 30, 2025 to January 11, 2026, the RUSFARIND index and the CCP repo indicators RUSFAR, RUSFAR1W, RUSFAR2W, RUSFAR1M, RUSFAR3M, RUSFARCNY, RUSFARCN1W, RUSFARRT, RUSFAR1WRT, RUSFAR2WRT, RUSFAR1MRT, RUSFAR3MRT, RUSFARCNRT, RUSFARC1WR, RUSFARN, RUSFAR1WN, RUSFAR2WN, RUSFAR1MN, RUSFAR3MN, RUSFARCNN, RUSFARC1WN will not be calculated.

From January 12, 2026, the calculation of Moscow Exchange indices and indicators will be carried out according to the standard regulations.

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.

Marat Khusnullin: The main construction work on the first stage of the Volgograd bypass has been completed.

Translation. Region: Russian Federation –

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

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In the Volgograd region, construction of the first stage of the Volgograd bypass, 12 km long, has been completed.

Construction of the first stage of the Volgograd bypass, a 12-kilometer section, has been completed in the Volgograd Region. This was announced by Marat Khusnullin, Deputy Prime Minister and Supervisor of the Southern Federal District.

"Following President Vladimir Vladimirovich Putin's instructions, we are continuing construction of city bypasses. These roads help significantly relieve transit traffic in populated areas, speed up freight delivery, and improve accessibility and the environment. The bypass of the hero city of Volgograd will become part of the federal highway R-22 "Caspian," which is a key part of the international North-South transport route and provides access to the ports of the Caspian basin. Specialists have completed the main construction work for the first phase of the bypass. According to preliminary estimates, this section will allow approximately 10,000 vehicles per day to leave the city of over a million, improving comfort for residents," said Marat Khusnullin.

In 2024, construction of the second phase of the Volgograd bypass was completed, connecting the Moscow-bound R-22 "Caspian" highway outside the city limits with another federal highway, the R-260 Volgograd-Kamensk-Shakhtinsky-Luhansk, and the regional road Kachalino-Stepnoy-Gumrak Airport. The design for the third phase of construction, which will connect the first two, has already been approved by the Federal Autonomous Institution "Glavgosexpertiza of Russia."

"The year 2025 has witnessed the comprehensive and systematic development of Russia's road construction industry, which continues despite all external challenges. Thanks to the attention and support of the government and President Vladimir Vladimirovich Putin personally, we are increasing the pace and volume of road construction in all regions of the country. At the same time, we are maintaining a high level of quality, paying special attention to safety and modern technologies. The Volgograd bypass, currently under construction, is a prime example of this approach. Today, we are completing the main work on a four-lane, 12-kilometer section that fully complies with modern road safety requirements, including intelligent transport systems. This bypass is an important element of the Volgograd Region's road network, which is being developed with the active support of the regional government and Governor Andrei Ivanovich Bocharov personally. "We are laying the groundwork for the next two stages—the third and fourth—which will ensure the 100% removal of transit traffic from such a beautiful city as Volgograd," commented Roman Novikov, head of the Federal Road Agency.

In addition to the road itself, the first stage includes three multi-level interchanges that will provide access to the Elista and Astrakhan directions of the R-22 "Caspian" federal highway, the Volgograd-Kotelnikovo-Salsk regional road, and will also connect the bypass with Volgograd. The highway is equipped with central and side barriers and continuous electric lighting.

Two paved rest areas have been established along the road, which will eventually be developed into multifunctional recreation areas. An intelligent transport system will assist specialists in monitoring traffic conditions.

One of the most technologically complex projects, not only of the first stage but of the entire Volgograd bypass, is the bridge over the Volga-Don Shipping Canal named after Lenin. Its length, including the overpass, is over 1,300 meters, along with the length of the channel section. The span over the canal is 17 meters.

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.

Financial News: "Money and Credit": Forecasts from central banks and the impact of the key rate on the debt burden.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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The fourth one was published in 2025. number The Bank of Russia's scientific journal "Money and Credit." The authors of this issue examine how the debt burden is changing in various sectors of the Russian economy, propose new methods for assessing the deviation of GDP growth from potential, and construct macroeconomic forecasts based on central bank publications.

The debt burden channel is one of the important channels through which monetary policy influences the economy. However, the debt burden changes differently across different sectors following changes in the key rate. An analysis by Anna Pustovalova and her colleagues (Bank of Russia and Lomonosov Moscow State University) using Russian data shows, the debt burden of companies in the mining sector is most sensitive to the key rate hike. However, in the medium term, the debt burden level in most sectors remains unchanged in response to the key rate hike.

The deviation of GDP growth from potential, or the output gap, serves as a benchmark for assessing the economic situation, but this indicator itself cannot be measured directly. Ilya Zverev and Nadezhda Kislyak (Bank of Russia) offer Our own approach to assessing it based on 14 macroeconomic and financial indicators. The results obtained using this methodology for the period 2005–2022 allow us to better explain business cycle dynamics by analyzing the influence of individual factors. For example, in 2008, 2009, and 2020, external demand played a key role, while in 2022, domestic demand became the decisive factor.

Numerous studies show that the quality of forecasting macroeconomic indicators, such as inflation, can be improved by using text information—news, social media data, and other similar channels. Urmat Dzhunkeev (MDigital) offers A forecasting approach that incorporates sentiment indices of central bank publications (news, monetary policy decisions, etc.) into traditional econometric and neural network models. The author finds that traditional methods are more accurate in forecasting Russia's GDP, but a synthesis of model forecasts that incorporate sentiment indices of central bank publications yields higher accuracy in forecasting inflation.

Read these and other articles published in the Money and Credit magazine, No. 4 for 2025. on the magazine's website.

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Dmitry Patrushev: As part of the federal project "General Cleaning," the raising of 14 sunken ships was completed in 2025.

Translation. Region: Russian Federation –

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

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In 2025, as part of the federal project "General Cleaning" of the national project "Environmental Well-Being," measures were taken to raise and dispose of sunken ships in the Far East.

In 2025, as part of the federal project "General Cleaning" of the national project "Environmental Well-Being," measures were taken to raise and dispose of sunken ships in the Far East.

"As part of the federal 'General Cleanup' project, the removal of accumulated damage continues. This work also includes the disposal of sunken ships. The 2025 plan called for the salvage of five ships. But thanks to our joint work with the regions, 14 have already been salvaged. I believe the approaches we've developed will help us maintain this momentum next year," said Deputy Prime Minister Dmitry Patrushev.

Other activities of the federal project to eliminate accumulated damage to the environment are also ongoing.

For example, toxic waste processing equipment has been installed at the former Krasny Bor landfill in the Leningrad Region, and its commissioning is nearing completion. Waste treatment will begin next year.

Construction of waste processing and disposal infrastructure has also been completed at the Babkhinsky landfill and the wastewater treatment plant of the now-defunct Baikal Pulp and Paper Mill in the Irkutsk Region. The contractor will begin waste disposal in 2026.

At Usolye-Khimprom, also located in the Irkutsk Region, demolition of buildings and land reclamation are underway. Significant work is planned for next year.

"The accumulated experience and technologies used at all these sites will be applied to the closure of other facilities. There will be at least 50 of them by 2030," the Deputy Prime Minister added.

The first newly selected project was a landfill in the city of Priozersk in the Leningrad Region. The closed waste collection site had been accepting waste since 1996. In 2010, its use was prohibited by a decree of the Priozersk Municipal District. The site is included in the state register of accumulated damage sites. The work involves isolating the waste by installing an impermeable screen, followed by reclamation.

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Financial news: On the procedure for calculating funding for perpetual currency futures during the New Year holidays.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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Moscow Exchange reminds that during the New Year holidays, the calculation of the SwapRate (funding) for USDRUBF and EURRUBF futures contracts will be made based on the latest exchange rate of the corresponding foreign currency to the Russian ruble published by the Bank of Russia, in accordance with paragraph 2.1.3.2.Specifications.

The calculation of funding for the CNYRUBF contract does not change during the holidays (the price of the underlying asset of the contract, the CNYRUB_TOM instrument, which will be traded on the days specified below, is used for the calculation).

Thus, on December 30, 2025, January 5–6 and January 8–9, 2026, the Bank of Russia exchange rate set on December 30, 2025 and valid until January 12, 2026 will be used to calculate funding and determine settlement prices for USDRUBF and EURRUBF contracts.

Learn more about perpetual currency futures –on the exchange website.

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Financial News: Online financial literacy lessons have garnered over 3.3 million views: Fall session results.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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During the session, more than 760 broadcasts were held on 29 topics of financial literacy and career guidance. More than two-thirds of schools, colleges, and technical schools across the country participated in the sessions.

This session of the Bank of Russia's online lessons was held in an updated, gamified format. Schoolchildren and students helped superheroes, restored magical artifacts, and saved the city of finance from villains.

The new format has significantly increased the percentage of students completing interactive assignments and maintaining interest throughout the lesson. The new overall ranking system, where teams and individuals compete for points each lesson, also motivates and helps reinforce knowledge.

Personal finance management remains by far the most popular module. Lessons on this topic have garnered nearly 1 million views. The second most popular module is how to protect your money and property, and investing is third.

The Bank of Russia has been offering online financial literacy classes since 2015. The schedule for the new session will be published. on the project website.

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Alexander Novak chaired a meeting of the organizing committee for the preparation and celebration of the 400th anniversary of Krasnoyarsk.

Translation. Region: Russian Federation –

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

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Deputy Prime Minister Alexander Novak chaired a meeting of the organizing committee for the preparation and celebration of Krasnoyarsk's 400th anniversary, which will take place in 2028. The meeting was attended by Krasnoyarsk Krai Governor Mikhail Kotyukov, representatives of the Ministry of Culture, the Ministry of Agriculture, the Ministry of Transport, the Ministry of Emergency Situations, the Ministry of Education and Science, and relevant departments and development institutions.

By decree of the President of Russia, Krasnoyarsk's anniversary celebrations were granted federal status. The Deputy Prime Minister noted that the city is a key transport and logistics hub, where industry, services, and the creative economy are developing, and infrastructure and social services are expanding. A favorable investment environment and participation in national projects create the preconditions for further economic growth.

During the meeting, representatives of relevant ministries and agencies reported on the progress of projects planned for the city's anniversary celebration.

In total, more than 200 events are planned for the anniversary celebrations, covering the development of transportation, public spaces and natural areas, and social and cultural facilities. Several major events have already been implemented over the past two years. Specifically, a branch of the National Center "Russia" – the Yenisei Gallery of Achievements – was opened, major renovations to the Victory Memorial Museum and Victory Square were completed, and four comprehensive schools for over 4,500 students were opened. 150 natural gas buses were purchased as part of a comprehensive program to modernize the eco-friendly transportation system. The second power unit of Krasnoyarsk Thermal Power Plant No. 3 was launched.

"Active work is underway, and much is already being accomplished. It is essential to ensure the timely completion of all assigned tasks. The implementation of projects dedicated to Krasnoyarsk's 400th anniversary will provide potential for the development of the city and the entire Krasnoyarsk Territory," emphasized Alexander Novak.

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