Category: Russian Economy

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Financial news: On the registration of an additional issue of exchange bonds.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

In accordance with the Listing Rules of Moscow Exchange PJSC, in connection with the receipt of the application, the Chairman of the Management Board made the following decisions on December 16, 2025:

1.

Register an additional issue of exchange bonds; assign a registration number to the additional issue in relation to the following securities:

Name of the Issuer Joint Stock Company "First Freight Company"
Name of the security Exchange-traded interest-bearing non-convertible uncertificated bonds series 003P-02 (additional issue No. 1)
Registration number of the additional issue 4B02-02-55521-E-003P dated 12/16/2025

2.

Register an additional issue of exchange bonds; assign a registration number to the additional issue in relation to the following securities:

Name of the Issuer Joint Stock Company "First Freight Company"
Name of the security Exchange-traded interest-bearing non-convertible uncertificated bonds series 003P-03 (additional issue No. 1)
Registration number of the additional issue 4B02-03-55521-E-003P dated 12/16/2025

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: 12/16/2025, 6:25 PM (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for the SU26231RMFS9 security (OFZ 26231) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 16, 2025

18:25

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 16.12.2025, 18-25 (Moscow time), the values of the upper limit of the price corridor (up to 15.6) and the range of market risk assessment (up to 181.14 rubles, equivalent to a rate of 50.0%) of the security SU26231RMFS9 (OFZ 26231) 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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Financial news: On December 17, 2025, the Federal Treasury will hold a deposit auction of 22,025,437.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Application selection parameters;

Application selection date is 12/17/2025. Unique application selection identifier is 22,025,437. 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 648,000,000,000. Placement period, in days is 2. Date of depositing funds is 12/17/2025. Date of return of funds is 12/19/2025. Interest rate for placing funds (fixed or floating) is FIXED. Minimum fixed interest rate for placing funds, % per annum is 15.76. 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 10:00 to 10:10. Applications in preliminary mode from 10:00 to 10:05. Applications in competition mode from 10:05 to 10:10. Random trading end period (sec.): 120 Bid increment:

Time step (sec.):

Extension period end time:

Formation of a consolidated register of applications from 10:30 to 11:00. Setting the cutoff interest rate and (or) recognizing the selection of applications as unsuccessful from 10:30 to 11:10. Sending an offer to credit institutions to conclude a bank deposit agreement from 11:10 to 11:30. Receipt of acceptance of the offer to conclude a bank deposit agreement from credit institutions from 11:10 to 11:30. The time of deposit transfer in accordance with the requirements of paragraphs 63 and 64 of the Order of the Federal Treasury dated April 27, 2023 No. 10n.

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: On holding auctions on December 17, 2025, to place OFZ issues No. 26251RMFS and No. 26253RMFS.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

For bidders

We inform you that, based on a letter from the Bank of Russia and in accordance with Part I. General Part and Part II. Stock Market Section of the Rules for Trading on the Stock Market, Deposit Market, and Loan Market of Moscow Exchange PJSC, the order establishes the form, time, duration, and procedure for holding auctions for the placement and trading of the following federal loan bonds:

1.

Name of the Issuer Ministry of Finance of the Russian Federation
Name of the security federal loan bonds with constant coupon income
State registration number of the issue 26251RMFS from August 19, 2025
Date of the auction December 17, 2025
Information about the placement (Trading mode, placement form) The placement of Bonds will be carried out in the “Placement: Auction” trading mode by holding an Auction to determine the placement price.BoardId: PACT (Settlement: Ruble)
Trade code SU26251RMFS7
ISIN code RU000A10CKT3
Settlement code B01
Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

2.

Name of the Issuer Ministry of Finance of the Russian Federation
Name of the security federal loan bonds with constant coupon income
State registration number of the issue 26253RMFS from October 17, 2025
Date of the auction December 17, 2025
Information about the placement (Trading mode, placement form) The placement of Bonds will be carried out in the “Placement: Auction” trading mode by holding an Auction to determine the placement price.BoardId: PACT (Settlement: Ruble)
Trade code SU26253RMFS3
ISIN code RU000A10D517
Settlement code B01
Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
Trading time Trading hours: bid collection period: 12:00–12:30; bid execution period: 13:00–18:00.

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: 12/16/2025, 15-27 (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for the security RU000A109DY9 (Rosnft4P2) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 16, 2025

15:27

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 16.12.2025, 15-27 (Moscow time), the values of the upper limit of the price corridor (up to 107.79) and the range of market risk assessment (up to 12915.97 rubles, equivalent to a rate of 12.5%) of the security RU000A109DY9 (Rosnft4P2) 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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Financial news: Microfinance organizations will be prohibited from issuing new loans to individuals until the previous one is repaid.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The restriction will apply to the most expensive consumer loans, where the total cost exceeds 100% per annum. A three-day cooling-off period will be imposed between the repayment of one expensive loan and the issuance of the next.

Such norms are prescribed in the law, adopted by the State Duma. It provides for serious restrictions on microfinance organizations (MFOs) and radical reform of the industry. These innovations will curb unscrupulous practices that literally lure people into debt bondage.

"About 70% of the most expensive microfinance institution loans are reissued as new ones, more than half with larger amounts. This indicates a serious problem for citizens. People fall into a debt spiral, their debt snowballing. The new law puts an end to such practices. It will allow citizens to pay off their microfinance institution debts, stopping them from accumulating. Importantly, the ban will not apply to loans with interest rates up to 100% per annum. This will preserve financial accessibility: people will still have the opportunity to quickly obtain a loan for urgent needs without accumulating problems," noted Ilya Kochetkov, Director of the Non-Bank Lending Department.

Furthermore, the law has reduced the loan overpayment limit from 130% to 100% of the loan amount. This means that if you receive a loan of 10,000 rubles, you will have to repay no more than 20,000 rubles, including the principal, interest, fees, and penalties.

Microfinance organizations will also be able to issue POS loans for purchases in stores and on marketplaces, with funds being directly transferred to the merchant's account. This will provide additional options for individuals when choosing a lender and support a healthy, customer-focused market.

Preview photo: Irina Mikhailichenko / Shutterstock / Fotodom

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

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Financial news: Banks will face increased fines for violating consumer rights.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Fines can amount to up to 1% of equity and no less than 1 million rubles. This high threshold is imposed on malicious violators of consumer rights—if the credit institution fails to comply with the Bank of Russia's order to correct the violation and continues to engage in unfair practices.

Law on increasing fines The State Duma adopted legislation today against banks for violating the rights of financial services consumers.

Thus, if a bank violates the law for the first time, the regulator will issue a recommendation to rectify it. If the violation is repeated, the credit institution will receive an order and pay a fine of up to 0.1% of its equity. However, if the order is not properly responded to, the fine may be increased to 1% of its equity.

"The Bank of Russia has repeatedly identified gross and systematic violations of consumer rights by certain market participants. It was easier for them to pay fines because they gained significantly more from unfair practices—their profits amounted to hundreds of millions of rubles. Therefore, we proposed an approach that would make violations economically unprofitable. We hope that the understanding that a violation will be followed by a significant penalty, exceeding the unfair gain, will deter the use of bad practices. This is precisely what the regulator strives for: we need not punishments, but the absence of violations of citizens' rights," noted Mikhail Mamuta, Head of the Service for Consumer Protection and Financial Inclusion.

The regulator will decide on the fine amount based on the number of transactions in which consumer rights were violated, the extent of damage caused to them, and the bank's unfair profits. Increased penalties apply for the most toxic and unacceptable financial market practices, such as pushing additional services when issuing loans, unjustified denials of payment holidays, and others.

Preview photo: Toey Andante / Shutterstock / Fotodom

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

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Financial news: 12/16/2025, 11:22 AM (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for security RU000A0JT403 (VEB.RF 18) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 16, 2025

11:22

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 16.12.2025, 11:22 (Moscow time), the values of the upper limit of the price corridor (up to 110.65) and the range of market risk assessment (up to 1183.67 rubles, equivalent to a rate of 8.75%) of the security RU000A0JT403 (VEB.RF 18) 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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Financial news: A press conference will be held on December 19 at 5:00 PM to follow the Board of Directors' meeting on monetary policy.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The event will be attended by Bank of Russia Governor Elvira Nabiullina and Bank of Russia Deputy Governor Alexey Zabotkin.

Elvira Nabiullina will make a statement on monetary policy.

The press conference will be held at the Bank of Russia's press center. A broadcast of the speech will be available on our website and channel inTelegram, as well as on the official page inVKontakte.

Accreditation for journalists runs until 17:00 on December 17 at the following address: media@kbr.ru.

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: 12/16/2025 The Investment Agency 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 16.12.2025. Placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 30,000,000. Placement term, days – 112. Date of depositing funds is 16.12.2025. Date of return of funds is 07.04.2026. Minimum placement interest rate, % per annum is 15. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 30,000,000. 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). Pre-bids are accepted from 12:15 to 12:30. Competitive bids are accepted from 12:30 to 12:40. The cutoff interest rate may be set or the auction may be declared void by 1:10 PM. Additional terms include: Deposits are deposited without the option of early withdrawal, and interest is paid monthly.

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.