Financial news: In most regions, prices grew more slowly in November than in October.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

In 53 of 85 regions, price growth slowed in November, and in four more it remained at the October level.

In most regions, prices for vegetables, fruits, and eggs increased less than in October, and sugar prices continued to decline. Non-food prices generally rose moderately, held in check by lower gasoline prices, which had risen sharply in previous months. Services increased in November. The most significant increases were for health resorts and passenger transportation: people tend to pay for travel and accommodations in advance, so the November figures already included the seasonal price increases before the New Year holidays.

Annual inflation slowed in 80 regions in November. The Bank of Russia will maintain high interest rates in the economy to ensure a confident return of inflation to 4%.

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

Preview photo: Ariya J / 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.

Financial news: Agreement with the regulator – an opportunity to preserve business reputation.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia for 2 years concluded 22 agreements with violators of the law on market manipulation and insider trading, against whom administrative cases have already been initiated.

The agreement mechanism has been in effect since 2024. Its essence lies in the investor agreeing to assist the investigation and paying a specified sum into the state budget. In exchange, their case is closed, their business reputation is preserved, and they can continue operating in the financial market. Since then, 17 investors and five companies have agreed to enter into agreements with the regulator, while two other requests have been denied.

When making its decision, the Bank of Russia evaluates the severity of the offense, the willingness of the perpetrator to disclose the reasons and circumstances of transactions with signs of manipulation and insider trading, and to disclose information about accomplices or other related illegal transactions. If approved, the party to the transaction is obligated to pay monetary compensation, the amount of which must be no less than the amount of the profit received. On average, each individual investor paid approximately 200,000 rubles, and each company paid 6.5 million rubles.

Any failure to comply with the agreement is grounds for reopening the case. The party then loses the right to enter into a new agreement.

This mechanism allows for faster and more cost-effective investigations into administrative cases of manipulation and insider trading, and also prevents unfair market behavior.

Preview photo: Izzuanroslan/ 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.

Financial news: The microfinance market continues to cool: Q3 results.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The volume of loans provided by microfinance organizations in the third quarter decreased by 5% compared to the previous period and amounted to 506 billion rubles.

This is the second quarterly decline this year. However, while the first quarter's decline was due to a seasonal decline in the business finance sector, this time the volume of consumer microloans has also declined.

The cooling is also being driven by macroprudential limits aimed at limiting household indebtedness. However, the quality of microloan portfolios has deteriorated slightly as previously issued unsecured loans mature. The share of debt overdue for 90 days or more has risen to 31%—the highest level seen in 2025.

At the same time, the risk of an increase in overdue debt will subside against the backdrop of a gradual tightening of the issuance of the most expensive microfinance loans. This is envisaged new law.

Read more in"Review of Key Performance Indicators of Microfinance Institutions for the Third Quarter of 2025".

Preview photo: Dmitry Feoktistov / TASS

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: Depository accounting: new regulations.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia plans to adjust the rules for depository accounting of foreign securities and the rights of foreign investors to Russian securities. Main vectors of change The regulator determined this following public discussions report.

Foreign securities will retain direct access to the Russian accounting infrastructure. The Bank of Russia has decided not to limit the presence of foreign assets to the issuance of Russian depositary receipts. At the same time, the Bank of Russia intends to simplify the issuance procedure.

Depositories will be required to inform their clients of the risks associated with foreign jurisdictions, including possible restrictions or blocking. It is planned to define a list of circumstances under which domestic depository institutions will be exempt from liability to depositors—for example, in the event of sanctions imposed by foreign governments or the nationalization of foreign companies.

Regarding the recognition of foreign investors' rights to Russian securities, conditions will be created for opening segregated accounts. In this case, the owner of Russian assets will be able to freely dispose of them and transfer them to a separate account without the consent of their foreign intermediary.

At the same time, depositories will retain their obligation to disclose all owners recorded in an aggregated account (if required by law or agreement). If a foreign intermediary refuses to disclose information about its investors, the exercise of rights to securities in depository accounts may be restricted.

All these provisions, aimed at strengthening investor protection, will form the basis of the concept of regulatory changes.

Preview photo: 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.

Financial news: VIM Investments funds are now available on the Finuslugi marketplace.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

On December 22, 2025, shares of four open-end mutual investment funds (OUIFs) of the management company VIM Investments became available to clients of the Finuslugi marketplace.

New funds offer marketplace users the opportunity to invest in shares of Russian public companies, government bonds, and corporate bonds:

"VIM – Balanced. Russian Issuers" is aimed at investors seeking income from investing in stocks and bonds of major Russian issuers. "VIM – Bonds. Russian Issuers" – the fund's assets are invested in government, sub-federal, and corporate bonds. "VIM – Shares. Russian Issuers" – the fund's assets are invested in fundamentally undervalued Russian stocks, with a focus on blue chips—the largest and most financially stable companies with high market liquidity. "VIM – Oil and Gas Sector" – invests in ordinary and preferred shares of leading Russian oil and gas companies.

Finuslugi clients now have access to 44 mutual funds from eight management companies.

Gleb Yuchenkov, Director of Investment Products at Finuslugi marketplace:

"Today, four new mutual funds from one of the market's largest management companies, VIM Investments, became available on Finuslugi. For investors, the collective instruments market offers access to professional asset management, the opportunity to diversify risks, and save time on analyzing and purchasing securities. Investors can compare dozens of different mutual funds, investing in them without opening a brokerage account—directly through their Finuslugi personal account. The addition of major management companies to Finuslugi demonstrates the marketplace's popularity not only among investors but also among market participants, who can reach a new audience."

Vladimir Kirillov, Executive Director of VIM Investments:

"Connecting to the Finuslugi marketplace is an important step in making our investment products more accessible to a wider range of investors. Now, through a convenient digital service, anyone can purchase shares in our eight mutual funds, focused on a variety of strategies—from conservative bonds to oil and gas stocks. This will simplify the investing process and help Russians manage their savings more effectively."

The minimum investment amount in VIM Investments funds on the marketplace is 100 rubles. Finuslugi does not charge a commission for transactions with shares listed on the platform. To start investing and purchase shares online on the marketplace, simply identify yourself through Gosuslugi.

Finuslugi is a money marketplace created by the Moscow Exchange. On Finuslugi, you can open bank deposits, take out cash loans, purchase mutual fund shares, public bonds of Russian regions, as well as compulsory motor insurance (OSAGO), comprehensive motor insurance (CASCO), mortgage insurance, property insurance, and other products. You can top up your Finuslugi account commission-free, 24/7, using the Faster Payment System (FPS).

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.

Financial news: On December 22, 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 22.12.2025. Placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 300,000,000. Placement term, days – 63. Date of depositing funds is 23.12.2025. Date of return of funds is 24.02.2026. Minimum placement interest rate, % per annum is 15.3. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 300,000,000. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open).

The basis of the Agreement is the General Agreement. Schedule (Moscow time). Preliminary bids from 12:00 to 12:10. Competitive bids from 12:10 to 12:15. The cutoff percentage may be set or the auction may be declared void by 12:25. 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.

Financial news: 12/22/2025, 10:56 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZZ1N0 (DOM 1P-3R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 22, 2025

10:56

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 22.12.2025, 10:56 (Moscow time), the values of the upper limit of the price corridor (up to 106.4) and the range of market risk assessment (up to 1145.9 rubles, equivalent to a rate of 8.75%) for the security RU000A0ZZ1N0 (DOM 1P-3R) 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.

Financial news: 12/22/2025, 10:55 (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for the RU000A109SK6 security (MTS 1P-27) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 22, 2025

10:55

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 22.12.2025, 10:55 (Moscow time), the values of the upper limit of the price corridor (up to 106.94) and the range of market risk assessment (up to 1145.12 rubles, equivalent to a rate of 8.75%) for the security RU000A109SK6 (MTS 1P-27) 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.

Financial news: On December 22, 2025, UK FRT LLC 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 date of the deposit auction is 22.12.2025. The placement currency is RUB. The maximum amount of funds placed (in the placement currency) is 347,000,000. Placement period, days – 22. The date of depositing funds is 22.12.2025. The date of return of funds is 13.01.2026. The minimum placement interest rate, % per annum is 16. Terms of the conclusion, urgent or special (Urgent). The minimum amount of funds placed for one application (in the placement currency) is 347,000,000. The maximum number of applications from one Participant, pcs. 1. Auction form, open or closed (Open).

The basis of the Agreement is the General Agreement. Schedule (Moscow time). Preliminary bids from 12:30 to 12:40. Competitive bids from 12:40 to 12:45. The cutoff percentage may be set or the auction may be declared void by 12:55. 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.

Financial news: 12/22/2025, 10:39 (Moscow time) the values of the upper limit of the price corridor and the range for assessing market risks for the RU000A10B0T2 security (RZhD 1P-39R) were changed.

Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

An important disclaimer is at the bottom of this article.

December 22, 2025

10:39

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 22.12.2025, 10:39 (Moscow time), the values of the upper limit of the price corridor (up to 124.33) and the range of market risk assessment (up to 1348.54 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.