Category: Russian Finance

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Take special control – the State Duma is concerned about migrant transfers

Translation. Region: Russian Federal

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Why do MPs want to limit migrants' money transfers?

The appeal of deputies to the Bank of Russia with a proposal to limit transfers by foreigners is due to the lack of effective legislative measures that would allow controlling the income of migrants. Legislators cite several reasons for introducing restrictions:

Foreigners transfer amounts from Russia that are significantly higher than their official incomes; the percentage of unofficial employment with salaries “in envelopes” remains high in the country – the budget does not receive enough taxes; migrant transfers are one of the channels for the withdrawal of capital obtained by criminal means; the lack of control leads to negative economic and social consequences for the country.

“The majority of migrants do not pay any taxes in Russia, but they take large sums out of the country: last year alone, over 14 billion dollars were sent to Kyrgyzstan and Uzbekistan – essentially, this is black cash,” MP Sergei Mironov previously stated.

The fight against illegal employment and money laundering are the key reasons why authorities want to introduce legislative restrictions on transfers.

What restrictions for migrants does the State Duma propose to introduce?

Deputies proposed to limit the amount of migrant transfers – foreigners will be able to send home funds not exceeding the amount of their own salary. If a migrant wants to transfer an amount greater than their official salary, the bank will be forced to request a declaration that will confirm the legality of the income received.

The government also proposed increasing a number of duties related to migration registration and taxing money transfers made by foreigners. Deputies recalled that last year alone, the number of foreigners in Russia increased by 9.5 million people, and another 700,000 migrants are in the country illegally.

09:00 08/26/2025

Source:

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Sectoral Assessment of AML/CFT Risks

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The structure of suspicious transactions and economic sectors that formed the demand for shadow financial services.

In the material on the results of 2021 and all subsequent years, the term “suspicious transactions” is used instead of the term “questionable transactions” (in accordance with the amendments made by Federal Law No. 423-FZ of 21.12.2021 “On Amendments to Certain Legislative Acts of the Russian Federation” to Federal Law No. 115-FZ of 7 August 2001 “On Combating the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism”). More Collapse –

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Estimates of Unobserved Variables for Russia: Putting Bars and Stars on r and y

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia has created and uses a set of models for medium-term forecasting, based on various versions of the New Keynesian model of dynamic stochastic general equilibrium. In their structure, they have many common features with the models used by other central banks that have successfully implemented inflation targeting policies for a long time. At the same time, the models take into account the features of the transmission mechanism of monetary policy in Russia and the macroeconomic policy being pursued (in particular, the mechanism of the budget rule).

This group of models includes the quarterly forecast model (QFM), which is a flexible tool for analyzing a wide range of scenario forecast variations. Dynamic stochastic general equilibrium models (DSGE) of a small open economy with a budget sector, banking sector, etc., allow obtaining additional estimates of forecast trajectories, as well as taking into account structural prerequisites not explicitly reflected in the QFM.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Report on the results of the annual monitoring of the values of insurance tariffs applied in compulsory insurance of civil liability of the carrier

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Performance indicators of insurers based on the Report on the structure of financial results by insurers

Feedback

Due to changes in the methodology for generating reporting indicators in Form 0420162 “Information on the insurer’s activities”, the amount of insurance premiums, starting with data for the first quarter of 2023, may not be fully comparable with the indicators for the comparative periods of the previous year. For a correct comparison of the volume of insurance premiums for reporting periods with similar periods of the previous year, information has been published on form 0420158 "Report on the structure of financial results by accounting groups".

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Holders of the VES MIR card package have access to a savings account in foreign currency

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

All holders of the international package of cards VS MIR have access to a savings account in foreign currency within the terms and conditions. With it, clients have the opportunity to save their currency savings. This is an excellent opportunity, because in the last few years, there have been significantly fewer options for placing currency at interest among banks.

How does the savings account work within the WHOLE WORLD package?

• A savings account is opened and linked to a foreign card.

• Account rate – 1.5% per annum.

• Interest is accrued daily on any balance in the account.

• Interest is paid once every six months (twice a year) – June 30 and December 31.

Our package of cards, THE WHOLE WORLD, has already become not just a tool for traveling abroad, but a tool that solves a variety of financial problems for clients.

To find out more, leave a request on the website. We will contact you and answer all your questions.

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Financial news: Consolidated report of the temporary administration, Bank PTB (LLC).

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Collection of cash, bills of exchange, payment and settlement documents and cash services for individuals and legal entities.

Purchase and sale of foreign currency in cash and non-cash forms.

Carrying out money transfers without opening bank accounts, including electronic money (except for postal transfers).

Carrying out transfers of funds on behalf of individuals and legal entities, including correspondent banks, through their bank accounts.

Opening and maintaining bank accounts for individuals and legal entities.

Attracting funds from individuals and legal entities into deposits (on demand and for a specified period).

Placement of funds attracted into deposits (on demand and for a specified period) of individuals and legal entities on their own behalf and at their own expense.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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They will link it to housing prices – the State Duma wants to increase the amount of maternity capital

Translation. Region: Russian Federal

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

What innovations do LDPR deputies propose for young parents?

The amount of maternity capital for the birth of a second child may be set in an unfixed amount, depending on real estate prices. LDPR deputies have prepared their proposals to stimulate the birth rate:

for the birth of a second child, parents will be paid the cost of housing with an area of 40 sq. m.; for the birth of a third child, full or partial repayment will be available mortgages in an amount equivalent to an area of 40 square meters; it is proposed to conduct an experiment on the implementation of initiatives in one of the regions in order to evaluate the effectiveness of the mechanism.

However, the proposal of the deputies is still just an idea; its implementation requires an assessment by the relevant departments, development and approval of the bill. The government has not reported on the consideration of the initiative.

How else does the State Duma plan to increase the birth rate in the country?

The Russian authorities are seriously considering stimulating the birth rate – for this purpose, the Demographic Council was created in early 2025. The members of this association proposed:

introduce corporate demographic standards at enterprises; create conditions for the resettlement of young families to villages; prohibit teenagers from having abortions without parental consent; change the Constitution, giving the embryo basic human rights; limit the commissioning of small apartments – developers must think about families.

“A good solution for large families would be to develop a domestic car – comfortable, large and roomy,” the People’s Front proposed.

Another bill currently under consideration in the State Duma proposes a 25% increase in the amount of maternity capital. The full amount is to be paid for the birth of each child, including 1.5 million rubles for the second, 2.6 million rubles for the third and subsequent children.

09:00 08/19/2025

Source:

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Launched instant Solid card

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

It is now possible to apply for a Solid Instant Issue Card. The instant card is issued to the client on the day of application to the Bank office, as it is non-personalized – the first and last name are not written on the plastic.

The non-personalized (instant) Solid card differs in terms from the personalized Solid card ONLY in the limits on cash withdrawals – they are lower. The other conditions remain the same.

Conditions of the instant Solid card:

• Issue – free,

• Service is free,

• SMS, Push notifications – free,

• Cash withdrawal from ATMs of third-party banks is free of charge,

• 11% per annum on the balance – monthly,

• 3% on everything* – cashback in rubles on all purchases, maximum payout amount – 3,000₽,

• Limits on cash withdrawals from ATMs and cash points: 50,000₽ per day, 300,000₽ per month.

*MCC exceptions for which cashback is not accrued:

6011 – Financial institutions – Automatic cash withdrawal,

6012 – Financial institutions – trade and services,

6538 – money transfers from card to card – write-off,

6010 – Financial institutions – Cash advances at the counter,

6536 – money transfers from card to card – crediting,

4900 – Housing and communal services,

9311 – tax payments,

5933 – pawnshops,

4899 – cable and other pay television services,

9222 – fines,

8661 – religious organizations,

6051 – Quasi-Cash – non-financial institutions,

5973 – religious goods stores,

4814 – Telecommunication services,

6211 – services of brokers in the securities market,

4829 – money transfers,

7995 – gambling.

You can apply for a card throughout the entire Solid Bank network, by link a complete list of cities where we have offices.

Here A collection of tariffs for issuing and servicing bank cards from 11.08.2025, where you will find the full terms of the tariff plan "Solid Card".

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Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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Solid Bank adjusted rates on ruble deposits for businesses

Translation. Region: Russian Federal

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Solid Bank has adjusted interest rates on ruble deposits for businesses. The line of deposits contains several options that will suit different goals and opportunities. Businesses only need to choose the option that suits them for placing funds.

At the moment, three ruble deposits remain available:

• Solid-Comfort,

• Solid-Income,

• Weekend overnight.

An offer for accumulating funds for business, aimed at increased and stable income – "Solid-Income".

Conditions:

• Interest rate in the range of 13.1%–16.1% per annum. The rate is floating and depends on the amount and term of the deposit.

• Duration – from 1 to 385 days with the possibility of extension.

• Amount – from 100,000 ₽. Bank specialists are ready to consult any business on an individual basis.

The link provides full terms and conditions of the Solid-Income deposit.

"Solid-Comfort" is suitable for beginners in placing business funds or for those who prefer optional deposits in case of force majeure. According to the terms, clients have access to comfortable options: partial withdrawal and replenishment. More details on the Bank's website.

Conditions:

• The interest rate is in the range of 12.1%–15.1% per annum. Its value also depends on the amount and term of the deposit.

• Amount – from 100,000 ₽. There are no limits on the amount.

• Duration – from 32 to 385 days with the possibility of extension. You can get advice on this offerfollow the link.

With the short-term ruble deposit "Weekend Overnight" a business can receive additional funds in the shortest possible time!

Conditions:

• The interest rate is the value of the key rate current at the time of placement minus 2 percentage points.

• Term – 1 business day (if transactions are carried out on Friday – for the period from Friday to Monday inclusive).

• Amount – from 5 million rubles. We recommend discussing all the details during the consultation. For this Place an order on the website.

Please note that the most attractive interest rates are now set for short-term deposits, with terms from 1 to 60 days.

Make the best financial decisions for your business with Solid Bank!

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Financial News: Average Market Values of the Full Cost of Consumer Credit (Loan)

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In accordance with Federal Law No. 353-FZ of December 21, 2013 "On Consumer Credit (Loan)", the Bank of Russia, in the manner established by it, quarterly calculates and publishes the average market value of the full cost of a consumer credit (loan) by categories of consumer credit (loans) separately for credit institutions, microfinance institutions, consumer credit cooperatives, agricultural consumer credit cooperatives, pawnshops based on the data they provide on the values of the full cost of a consumer credit (loan). The period for which the calculation was made is indicated in the heading of each calculation.

At the time of concluding the consumer credit (loan) agreement, the total cost of the consumer credit (loan) in percentage per annum may not exceed the lower of the following values: 292 percent per annum or the average market value of the total cost of the consumer credit (loan) in percentage per annum of the corresponding category of consumer credit (loan) calculated by the Bank of Russia, applied in the corresponding calendar quarter, by more than one third.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.