Category: Russian Economy

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Financial news: Who are the Fixies (December 4, 2025).

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

On December 5, 2025, the Bank of Russia will issue commemorative coins "The Fixies" from the "Russian (Soviet) Animation" series:

– silver coin of 3 rubles;

– made of nickel-plated steel with a face value of 25 rubles;

– made of copper-nickel alloy with a color coating with a face value of 25 rubles.

The animated series "The Fixies" premiered in Russia in 2010. It follows the adventures of little people who live inside various devices and mechanisms. The Fixies are highly tech-savvy and easily explain to children how the modern world works.

Description of a coin made of precious metal

A silver coin with a denomination of 3 rubles (pure precious metal weight – 31.1 g, alloy fineness – 925) has a round shape with a diameter of 39.0 mm.

There is a raised edge around the circumference of both the front and back sides of the coin.

The obverse of the coin features a relief image of the State Emblem of the Russian Federation, along with the inscriptions: "RUSSIAN FEDERATION", "BANK OF RUSSIA", the coin denomination "3 RUBLES", the year of issue "2025", the metal designation according to D.I. Mendeleyev's Periodic Table of Elements, the alloy fineness, the trademark of the St. Petersburg Mint, and the pure weight of the precious metal.

On the reverse side of the coin (catalogue number 5111-0532) there is a color image of the characters from the animated series “The Fixies”, with the inscription “FIXIES” at the top.

The side surface of the coin is corrugated.

The coin is made in proof quality.

The mintage of the coin is 7.0 thousand pieces.

Description of coins made of base metals

Coins made of base metals with a denomination of 25 rubles have a circular shape with a diameter of 27.0 mm.

The obverse and reverse sides of the coins have a raised edge around the circumference.

The side surface of the coins is corrugated.

On the obverse of the coins is a relief image of the State Emblem of the Russian Federation, above it along the edge is the semicircular inscription "RUSSIAN FEDERATION", framed on both sides by double diamonds, on the right is the trademark of the Moscow Mint, under the emblem in the center in three lines is the inscription "BANK OF RUSSIA", the denomination of the coins "25 RUBLES", the year of issue "2025".

On the reverse side:

– nickel-plated steel coins (catalog No. 5715-0004) feature a relief image of the characters from the animated series “The Fixies” with the inscription “FIXIES” at the top;

– coins made of copper-nickel alloy (catalog No. 5015-0078) feature a color image of the characters from the animated series "The Fixies" with the inscription "FIXIES" at the top.

Coin circulation:

– made of nickel-plated steel – 850.0 thousand pieces;

– made of copper-nickel alloy with colored coating – 150.0 thousand pieces.

The issued coins are legal tender in the Russian Federation and are accepted at face value for all types of payments without restrictions.

When using the material, a link to the Press Service of the Bank of Russia is required.

December 4, 2025

13:41:00

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 trading one-day futures with automatic rollover in December 2025.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

Moscow Exchange reminds that the specifications of one-day futures contracts with automatic rollover on currency pairs, indices, stocks, and gold (USDRUBF, EURRUBF, CNYRUBF, GLDRUBF, IMOEXF, SBERF, and GAZPF) provide for the possibility of submitting execution orders for quarterly contracts on the corresponding underlying assets.

The earliest execution order submission date is December 4, 2025. Orders are submitted 10 trading days prior to the expiration of the nearest quarterly futures contracts. Orders are executed during the evening clearing of the day the order is submitted. Detailed information on the order submission and execution dates, as well as the execution mechanism, is provided on the pageshttps://www.moex.com/a8141,https://www.moex.com/a8493,https://www.moex.com/a8803Andhttps://www.moex.com/a8805.

When executing perpetual futures, a one-time fee of 3% of the contract's par value applies. This fee is paid by the party submitting the execution order to the party whose positions were executed without submitting the order. The fee calculation formula is specified in the contract specifications.

The clearing center also charges a commission of 0.1% of the par value for executing orders for overnight contracts with automatic rollover. Participants' contracts may be executed without submitting an order if there are not enough counter-orders for execution, as stipulated by the clearing rules of the NCC (JSC). In this case, no execution commission is charged.

The execution of orders is carried out in accordance with the procedure stipulated by the clearing rules of the NCO NCC (JSC) and the contract specifications:

Execution is carried out by two transactions: closing a position in a one-day contract and opening a position in the nearest quarterly futures (these transactions occur at the Contract's settlement price during evening clearing); Counter orders are executed first; The remaining orders that are not executed as a result of the execution of counter orders are executed without submitting an order;

The selection of settlement codes, the positions of which are executed without submitting orders, occurs proportionally to the volume of open positions in descending order of the volume of open positions (opposite direction).

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: 03.12.2025, 17-56 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A1098W8 (DOM 1P-18R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 3, 2025

17:56

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 03.12.2025, 17-56 (Moscow time), the values of the upper limit of the price corridor (up to 106.11) and the range of market risk assessment (up to 1365.15 rubles, equivalent to a rate of 10.0%) of the security RU000A1098W8 (DOM 1P-18R) 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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Solid Bank JSC's credit rating has been confirmed at ruBB.

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Expert RA confirmedratingSolid Bank's creditworthiness is ruBB with a stable outlook. This implies a high probability of maintaining the credit rating at its current level over the next 12 months.

The Bank's credit rating is determined by:

1. Weak market position assessment. Expert RA noted an increase in business scale: from September 1, 2024 to September 1, 2025, Solid Bank's assets increased by 77%. However, the Bank remains outside the top 100 banks in the Russian banking sector by assets, and its client base in the corporate and retail lending segments is limited.

2. An adequate capital position while maintaining high business profitability. As of 01.09.2025, the Bank's capital adequacy ratios were at an adequate level (N1.0 – 20.6%; N1.2 – 16.7%), allowing it to withstand a potential impairment of about 18% of the asset base and off-balance sheet liabilities at risk versus 11% a year earlier. The growth of the capital buffer is due to the high profitability and operating efficiency of the Bank's activities: ROE under RAS for the period from 01.07.2024 to 01.07.2025 amounted to about 65% versus 36% a year earlier, the CIR indicator was 33% versus 44%, respectively. At the same time, the Agency notes the predominant share of volatile components in the structure of the Bank's financial result, the main part of which is represented by income from foreign currency transactions, sensitive to the external environment. The capital position was further supported by a decrease in capital immobilization through investments in non-core assets, which had significantly declined: over the past 12 months, this indicator decreased from 44% to 29%. The concentration of assets in high-risk credit assets decreased amid faster growth in net assets: high-risk credit assets accounted for approximately 11% of the Bank's net assets as of September 1, 2025, compared to 18% the previous year.

3.      Satisfactory asset quality. In the structure of the Bank’s gross assets as of September 1, 2025, 57% accounted for liquid components, including cash, placements with the Bank of Russia and correspondent credit institutions, as well as a portfolio of securities and digital financial assets. Over the past 12 months, the volume of urgent placements on the interbank market has more than doubled and as of September 1, 2025 reached 28% of gross assets, mainly in the form of repo transactions with NPO NCC (JSC). The share of placements in NOSTRO accounts amounted to 4% of gross assets as of September 1, 2025, of which about 40% were claims on counterparties with ratings and conditional rating classes at the level of ruA- and higher on the Expert RA scale. The securities portfolio formed about 18% of gross assets as of September 1, 2025 and is almost entirely represented by investments in OFZs and debt obligations of issuers with ratings and conditional rating classes at the level of ruA-higher on the Expert RA scale. The client loan portfolio accounted for about 32% of the Bank’s gross assets as of 09/01/2025, of which the main share is loans to legal entities and individual entrepreneurs (about 30% of assets). This portfolio is characterized by an increased level of overdue debt (about 7%) and loans of IV-V quality categories (about 10%). Industry diversification of business loans is at an acceptable level: the top 3 industries accounted for about 57% of the portfolio of loans to legal entities and individual entrepreneurs as of 08/01/2025. As before, the Agency notes the low level of property security of the loan portfolio: as of 08/01/2025, about 21% of the debt of legal entities and individual entrepreneurs was secured by the pledge of real estate and rights to it. The retail portfolio formed less than 2% of gross assets and is mainly represented by unsecured consumer loans. Another approximately 3% of gross assets were investments in high credit quality DFAs. The Bank’s guarantee portfolio for the period from 09/01/2024 to 09/01/2025 increased by 23% and reached 71% of capital; its quality is assessed as low: the ratio of the amount of payments under issued guarantees to the average guarantee portfolio over the last 12 months was 4.6%.

4. An adequate liquidity position. This is due to the Bank's high balance sheet liquidity reserve: the average coverage of attracted funds by highly liquid and liquid assets for the period from 01.09.2024 to 01.09.2025 was 34% and 60%, respectively. At the same time, the Bank retains the ability to attract additional liquidity through repo transactions due to a portfolio of unencumbered securities of high credit quality. The funding structure is characterized by high diversification by sources: funds from individuals and corporate clients as of 01.09.2025 formed approximately 30% and 37% of liabilities, respectively. Another approximately 16% came from funds from credit institutions. The concentration of the liability base on clients remains at an adequate level: the share of the 10 largest groups of creditors, including credit institutions, amounted to approximately 29%, and the share of the largest creditor was approximately 8%. The agency notes a significant increase in funds raised over the past 12 months (78%), primarily due to increased balances in term deposit accounts for individuals and legal entities. However, large payments that could have a significant negative impact on the Bank's liquidity are not expected over the next 12 months.

5. A conservative assessment of corporate governance. This is due to the presence of certain deficiencies in the internal control and credit risk management systems. The Bank operates within the framework of its updated Strategy for 2025-2027. Business planning is conducted annually, with target indicators periodically adjusted based on the current macroeconomic environment. The current strategy envisions organic growth in the Bank's key business segments, maintaining its settlement specialization while actively expanding corporate lending, and launching new products in the areas of bank guarantees and factoring. However, in the Agency's opinion, given the current market conditions, the potential for achieving certain strategic indicators remains limited.

Reference information

Solid Bank JSC is a universal commercial bank founded in 1991 in Kamchatka. In 2017, the head office was relocated to Vladivostok. The bank has offices throughout the country: in the Far Eastern Federal District, Siberian Federal District, Tatarstan, Udmurtia, Bashkortostan, Moscow, Tula, Yekaterinburg, and St. Petersburg. The majority of offices are located in the Far East. For over 30 years, Solid Bank JSC has been providing a full range of services to businesses and private clients. General License No. 1329 of the Central Bank of the Russian Federation dated May 25, 2017.

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 4, 2025, 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 December 4, 2025. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 1,500,000,000.

Placement period, days 179. Date of deposit of funds 05.12.2025. Date of return of funds 02.06.2026.

The minimum placement interest rate, % per annum, is 15.8. Terms of the conclusion are fixed-term or special (Fixed-Term). The minimum amount of funds placed per application (in the placement currency) is 1,500,000,000. The maximum number of applications from one Participant is 1. Auction format is open or closed (Open).

The basis of the Agreement is the General Agreement. Schedule (Moscow time). Preliminary bids from 10:00 to 10:10. Competitive bids from 10:10 to 10:15. The cutoff percentage may be set or the auction may be declared void by 10:25. 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.

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Financial news: Private investment in securities on the Moscow Exchange increased by more than a third in November.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

The number of individuals with brokerage accounts on the Moscow Exchange (MOEX) at the end of November 2025 was 39.7 million (260,000 in November), with 75 million accounts opened. In November, 2.8 million people entered into transactions on the Moscow Exchange stock market, 320,000 of whom were qualified private investors.

In November 2025, individual investments in securities on the Moscow Exchange stock market increased by 36% compared to November of the previous year, reaching 131.8 billion rubles. Of this, investments in bonds amounted to 115.6 billion rubles, and investments in mutual funds amounted to 31.1 billion rubles. Share sales exceeded purchases by 14.9 billion rubles.

The share of private investors in the volume of trading in shares and exchange-traded funds in November was 66%, and in the volume of trading in bonds – 8%.

The most popular shares in private investor portfolios in November were ordinary and preferred shares of Sberbank (28.6% and 6.9%, respectively), Gazprom shares (13.8%), Lukoil (13.4%), VTB Bank (8.4%), T-Technologies (6.9%), Yandex (6%), X5 (5.7%), Rosneft (5.2%), and Polyus (5.1%).

The top 5 Russian mutual funds in private investor portfolios included money market funds LQDT (share – 38.2%), SBMM (18.1%), AKMM (17.3%) and bond investment funds AKFB (2.5%) and AKMB (2.4%).

The morning and evening trading sessions accounted for 8% and 17% of total stock and fund mutual fund trading volume, respectively. Retail investors were the main participants in the morning and evening sessions, accounting for 80% and 74%, respectively.

The most popular papers from the composition Moscow Exchange IPO Index In November, private investor transactions included shares of SVCB, IVAT, SOFL, ASTR, LEAS, UGLD, EUTR, OZPH, VSEH and MBNK.

The number of individual investment accounts (IIAs) reached 6.14 million. Trading turnover in IIAs in November 2025 amounted to 228.5 billion rubles. Shares accounted for 54% of this turnover, bonds accounted for 20%, and mutual funds accounted for 26%.

Moscow Exchange is Russia's largest exchange and the only multifunctional platform for trading stocks, bonds, derivatives, currencies, money market instruments, and commodities. The Moscow Exchange Group includes a central depository and a clearing center that acts as a central counterparty in the markets, enabling Moscow Exchange to provide its clients with a full range of trading and post-trading services.

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: Forum "Cybersecurity in Finance": Program Architecture.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

On the first day of the event, a plenary session will be held featuring Bank of Russia Governor Elvira Nabiullina. It will focus on strategic areas of information security in the financial sector for the coming years, including the regulator's plans to combat cyberfraud.

Program architecture The forum includes over 30 thematic sessions. These include innovations in banking to combat cyberfraud, including the use of artificial intelligence. Participants will also discuss cybersecurity in the platform economy, countering deepfakes and personal data leaks, and import substitution. Separate sessions will be devoted to training information security specialists, combating credit fraud, and other relevant issues.

The Cybersecurity in Finance Forum will be held from February 18 to 20, 2026, in Yekaterinburg.

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: Open positions in transactions with the Central Bank on the Moscow Exchange money market exceeded 10 trillion rubles.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

The open position of Moscow Exchange money market participants and their clients in transactions with the central counterparty (CCP) has increased by 26% since the beginning of the year and exceeded 10 trillion rubles.

Over the first 11 months of 2025, over 12,000 companies conducted transactions with the Central Bank on the Moscow Exchange money market—46% more than in the same period last year.

In the repo transactions segment with the Central Bank, participants and their clients have open positions worth more than 9 trillion rubles (16% since the beginning of the year), of which almost 1.9 trillion rubles are repo transactions with a floating rate.

In the CCP deposit segment, the open position has grown 4.2-fold since the beginning of the year and now stands at almost 1 trillion rubles. Nearly 300 Russian companies have access to this segment of the money market.

Dmitry Danilenko, Director of Money Market Development at Moscow Exchange:

"The growing activity of participants confirms the effectiveness of the trading mechanism involving the Central Bank. The interaction of companies of all sizes in the money market allows them to quickly manage available liquidity, while the Central Bank acts as a reliable intermediary between the parties to the transaction, ensuring convenience and security in the execution of transactions and settlements."

Repo transactions with the Central Bank on the Moscow Exchange money market allow you to attract and place available Russian and Belarusian rubles, Chinese yuan, and Kazakhstani tenge secured by securities for terms ranging from one day (overnight) to one year.

Deposits with a centralized contract allow participants to place funds under market conditions using the Moscow Exchange Group's exchange and settlement infrastructure. Deposit terms range from one day to one year, and the available currencies are the Russian ruble and Chinese yuan. Companies use the platform to conduct transactions on the centralized contract deposit market. MOEX Treasury.

The Moscow Exchange money market is one of the most important segments of the Russian financial market, used by large corporations, small companies, and individual investors to manage their liquidity. Money market instruments include repos with the Central Custody Transfer (CCT), repos with the Central Custody Transfer (CCT), repos with the Bank of Russia (CBR), interdealer repos, deposits with the CCT, loans, and deposit and loan auctions. Trading is organized by the Moscow Exchange, and clearing and settlement are handled by the National Clearing Center (NCC, part of the Moscow Exchange Group).

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: 03.12.2025, 13-24 (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for security RU000A1065C9 (Rosseti1P9) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 3, 2025

13:24

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 03.12.2025, 13-24 (Moscow time), the values of the upper limit of the price corridor (up to 102.6) and the range of market risk assessment (up to 1108.95 rubles, equivalent to a rate of 18.75%) of the security RU000A1065C9 (Rosseti1P9) 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: Brokerage account inflows hit four-year high.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The influx of new capital into the stock market in Q3 2025 was the highest since the beginning of 2021. Retail investors deposited 872 billion rubles into brokerage accounts, up 52% from the previous quarter. Three-quarters of this volume came from qualified investors.

This interest in stock market instruments is explained by a decrease in deposit rates against the backdrop of a general easing of monetary conditions.

The number of clients with assets increased from 5.1 million to 5.3 million, with beginning investors more likely to top up their accounts immediately after opening. The segment of clients with portfolios over 6 million rubles grew significantly, growing three times faster than the mass market segment.

Investors favored bonds, reaching 38% of their portfolio, while stocks accounted for only 25%. Long-term OFZs with fixed coupons, quasi-currency securities of exporters, and ruble-denominated corporate bonds were in demand.

Thanks to the influx of new money into brokerage accounts and the rise in the value of debt securities, retail investor assets grew from 11 trillion to 11.8 trillion rubles over the quarter.

Read more in"Review of Key Broker Indicators" for Q3 2025.

Preview photo: Midnight Studio TH / 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.