Category: Russian Finance

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Financial News: Clarifications: Reporting Form 0409264 "Information on Electronic Payment Instruments and Transactions Using Them"

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Updated: December 21, 2023

The clarification regarding a unique (non-repeating) record concerns the data aggregation (grouping) rule. Subsection 1.1 does not require the presentation of information about each individual electronic payment instrument, unless it is the only electronic payment instrument with a set of codes in columns 2B8 that differs from all other sets of codes entered for other electronic payment instruments.

Data aggregation is performed based on the sets of codes specified in columns 2-8 for each individual EPI. This requirement means that electronic payment instruments with identical characteristics, i.e., for which the code values in columns 2-8 are identical, are "collapsed" into a single report row, while the quantitative values entered for columns 9, 10, or 11 are summed.

The form of technical implementation of the specified procedures in the software is at the discretion of the reporting credit institution.

EXAMPLE:

The reporting company issued a total of 8 electronic payment instruments:

Two Mir credit cards were issued to individuals located in the Ryazan region. The payment cards were issued to clients. Both cards were valid as of the reporting date and opened during the reporting quarter. The first card was used for transactions during the reporting quarter, while the second card was not used for any transactions (Clients 1 and 2). One Mir debit card was issued to a trading company located in the Belgorod region. The card was issued to a company representative. During the reporting quarter, the company representative made purchases using this card. As of the reporting date, the company closed the card. (Client 3) Five Internet Wallets. Three of the wallets are non-personalized ESPs, without identification, and two are personalized ESPs, with full identification. The holders of the personalized ESPs are located in the Pskov region. All wallets are active as of the reporting date, with two clients opening them during the reporting quarter. All ESPs were used for payments at retail and service establishments during the reporting quarter (clients 4-8).

For the specified ESPs, the following codes are filled in columns 2-8 and values in columns 9-11 during the report preparation process:

  Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9 Column 10 Column 11
Client 1 3 61000 2   1 8002 MIR (NSPK) 1 1 1
Client 2 3 61000 2   1 8002 MIR (NSPK) 1   1
Client 3 1 14000 1   1 8002 MIR (NSPK)   1  
Client 4 3   4 3 8418 Internet wallet 1 1  
Client 5 3   4 3 8418 Internet wallet 1 1  
Client 6 3   4 3 8418 Internet wallet 1 1  
Client 7 3 58000 4 1 8418 Internet wallet 1 1  
Client 8 3 58000 4 1 8418 Internet wallet 1 1  

Based on the data presented, the set of codes in columns 2-8 is the same for the following groups of ESP clients:

for ESP clients 1 and 2 for ESP clients 4, 5, 6 for ESP clients 7 and 8

Based on the results of data aggregation (grouping), the following information should be presented in the report:

Line number Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9 Column 10 Column 11
1 3 61000 2   1 8002 MIR (NSPK) 2 1 2
2 1 14000 1   1 8002 MIR (NSPK)   1  
3 3   4 3 8418 Internet wallet 3 3  
4 3 58000 4 1 8418 Internet wallet 2 2  

A similar aggregation principle applies to Subsection 1.2, Section 2, Subsection 3.1 and Section 4 of the report.

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: Validation Schemas for the DRAFT7 JSON Service File for the Bank of Russia XBRL Taxonomy Version 7.1

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

To optimize the collection and processing of granular (detailed) data, the Bank of Russia is offering the option to use the new XBRL-CSV specification for preparing and submitting reporting data to the Bank of Russia. This specification enables the collection of detailed data within the collection model structure provided by the XBRL taxonomy, significantly reducing the file size of the transmitted data.

If the size of the zip archive containing the XBRL report exceeds 2000 MB, the report can be generated in XBRL-CSV format and submitted to the Bank of Russia at the following entry points:

For the Bank of Russia XBRL taxonomy version 7.1:

for NPF: ep_nso_npf_y_90d_reestr_0420257; for PURCB: ep_nso_purcb_m_q_y_10rd_reestr_0420417.

For the Bank of Russia XBRL taxonomy version 6.1:

for NPF: ep_nso_npf_y_90d_reestr_0420257; for PURC: ep_nso_purcb_m_q_y_10rd_reestr_0420417; for BKI: ep_nso_bki_q_y_15rd_reestr_0420755.

Submission of reports in XBRL-CSV format is possible starting from the reporting date of April 30, 2021.

If you have any questions about reporting in XBRL-CSV format, please send them to svch_sbrlnelp@kbr.ru, indicating “Report structure in XBRL-CSV format” in the subject line.

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: Example of XBRL-CSV reporting packages for the Bank of Russia XBRL taxonomy version 7.1

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

To optimize the collection and processing of granular (detailed) data, the Bank of Russia offers the option to use the new XBRL-CSV specification for preparing and submitting reporting data to the Bank of Russia. This specification enables the collection of detailed data within the collection model structure provided by the XBRL taxonomy, significantly reducing the file size of the transmitted data.

If the size of the zip archive containing the XBRL report exceeds 2000 MB, the report can be generated in XBRL-CSV format and submitted to the Bank of Russia at the following entry points:

For the Bank of Russia XBRL taxonomy version 7.1:

for NPF: ep_nso_npf_y_90d_reestr_0420257; for PURCB: ep_nso_purcb_m_q_y_10rd_reestr_0420417.

For the Bank of Russia XBRL taxonomy version 6.1:

for NPF: ep_nso_npf_y_90d_reestr_0420257; for PURC: ep_nso_purcb_m_q_y_10rd_reestr_0420417; for BKI: ep_nso_bki_q_y_15rd_reestr_0420755.

Submission of reports in XBRL-CSV format is possible starting from the reporting date of April 30, 2021.

If you have any questions about reporting in XBRL-CSV format, please send them to svch_sbrlnelp@kbr.ru, indicating “Report structure in XBRL-CSV format” in the subject line.

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: Installment service operators.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

1. Study the requirements of the necessary Federal laws and regulations.

2. Check the applicant's eligibility.

Organizational and legal form Business company.
Minimum amount of equity (capital) 5 million rubles.
Official website

The website is located in the Russian national domain zone; the applicant is the owner of the website's domain name.

To check the ownership of a website's domain name, use the Whois web service.
Shareholders (participants) and members of management bodies The list of persons, as well as qualification requirements, requirements for business reputation and other requirements for these persons are provided Articles 8 and 9 of the Law of July 31, 2025 No. 283-FZ.

Specialized services for verification:

3. Activate personal account of an information exchange participant.

4. Prepare and send to the Bank of Russia via personal account of an information exchange participant a set of documents for entering information into the OSR register according to the procedure “4010 Applicants”.

Application for inclusion of information about a legal entity in the OSR register. Documents attached to the application.

5. Wait for the Bank of Russia’s decision.

The period for consideration of an application for entering information about a legal entity into the OSR register is 30 working days.

In this case, the Bank of Russia may send the applicant a request to provide documents confirming compliance with the requirements. Law of July 31, 2025 No. 283-FZ.

If such a request is sent, the period of 30 working days will be calculated from the date of its execution by the applicant.

1. Study the requirements of the necessary Federal laws and regulations.

2. Check the applicant's eligibility.

Official website

The website is located in the Russian national domain zone; the applicant is the owner of the website's domain name.

To check the ownership of a website's domain name, use the Whois web service.

3. Prepare and send to the Bank of Russia via personal account of an information exchange participant a set of documents for entering information into the OSR register according to the procedure “4010 Applicants”.

Application for inclusion of information about a legal entity in the OSR register. Documents attached to the application.

4. Wait for the Bank of Russia’s decision.

The period for consideration of an application for entering information about a legal entity into the OSR register is 30 working days.

In this case, the Bank of Russia may send the applicant a request to provide documents confirming compliance with the requirements. Law of July 31, 2025 No. 283-FZ.

If such a request is sent, the period of 30 working days will be calculated from the date of its execution by the applicant.

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: Signs of fraudulent transfers from January 1, 2026.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

This can be done in one of two ways:

Submit a request to any bank where you or your company serves. The bank is obligated to forward the client's request to the Bank of Russia no later than the next business day (unless there is a reason to refuse to forward the request to the Bank of Russia). Submit the request to the Bank of Russia via the online reception, selecting "Information Security" as the subject and the relevant issue.

Regardless of the method of application, individual entrepreneurs and individuals engaged in private practice must include the following information in their application:

— series (if any) and numbers of identity documents;

— INN;

— bank account numbers, and/or payment cards, and/or electronic wallets.

Additionally, you may indicate in your application the full and abbreviated (if any) names of the banks from which you learned about the inclusion of information in the Bank of Russia database, and/or their bank identification codes, as well as a telephone number.

A legal entity must include the following information in its application:

— INN;

— bank account numbers, and/or payment cards, and/or electronic wallets.

A legal entity may additionally provide the series (if any) and numbers of identity documents, the SNILS of an individual performing the functions of the sole executive body of a legal entity, as well as the full and abbreviated (if any) names of the banks from which you learned about the inclusion of information in the Bank of Russia database, and (or) their bank identification codes.

Moreover, if the bank believes that information about its client has been included in the database without justification, it has the right to independently, without the client’s participation, send a reasoned statement to the Bank of Russia.

The Bank of Russia will review the application within 15 business days and decide whether to remove the details from the database.

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: Album of orders applied in the Bank of Russia payment system (version 2026.3).

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Bank of Russia's payment system is an integral part of the national payment system. It is legally recognized as a systemically important payment system through which the monetary and budgetary policies of the Russian Federation are implemented.

Within the framework of the Bank of Russia payment system:

On behalf of its participants (including credit institutions, the Federal Treasury and its territorial bodies), funds are transferred between accounts opened with the Bank of Russia; settlements for funds transfers carried out within the Russian Federation using payment cards are completed; and a mechanism for completing settlements for transactions concluded in financial markets is implemented.

The Bank of Russia carries out money transfers using three services:

urgent transfer service; non-urgent transfer service; fast payment service.

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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A positive trend: inflation in Russia has slowed to 5.8%.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

Image: mainfin.ru

What was the growth rate of consumer prices in Russia in mid-December?

Inflation in the country began to slow in December – prices rose by 0.05% in the first week of the month, and by 0.06% in the second. Since the beginning of the year, the increase has been approximately 5.4%. Compared to last year, inflation has slowed. According to the Central Bank, in December 2024, the price growth rate was 6.12%, and now it is 5.8%.

The Ministry of Economic Development also confirms this trend: in the first ten days of December, inflation slowed to 6.08% (compared to 6.34% a year earlier). However, experts agree that the slowdown in price growth is only temporary, driven by seasonal factors; it's too early to talk about the sustainability of this trend.

What will happen to inflation in Russia at the beginning of 2026?

The slowdown in price growth in December is a positive development, but inflation expectations remain high in the country. Price growth for goods and services is projected to accelerate in the first months of 2026, driven by several factors:

An increase in the VAT rate from 20 to 22%; the abolition of certain business benefits that reduce the tax burden; high borrowing activity among Russians; and a worsening budget deficit.

"The state budget for next year includes a key rate of 12-13% per annum, but the Central Bank of the Russian Federation believes the actual rate will exceed the forecast level: this contradiction calls into question the ability to fulfill budget plans," the pessimistic expert believes.

Moreover, at its most recent key rate meeting, the Central Bank of Russia noted that monetary policy in Russia will remain tight. The regulator is signaling the end of the rate cut cycle, and if inflation accelerates, the rate may even be revised upward. The next key rate decision will be made on February 13, 2026. The Central Bank expects inflation to fall below 5% next year.

15:30 12/23/2025

Source:

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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Insurers are facing a tough time – the number of large OSAGO payouts has increased by 37% over the past year.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How has the number of OSAGO payments changed in 2025?

A significant increase in OSAGO payments was recorded regardless of the compensation amount – over the first 9 months of this year, the changes were significant:

The number of large payments (from ₽350 to ₽400 thousand) increased by 37%; the number of payments in the range of ₽300 to ₽350 thousand increased by 14%; insurers began to pay out 27% more often for damages in the amount of ₽250 to ₽300 thousand; an 18% increase was recorded in the group from ₽200 to ₽250 thousand; the number of claims for damages from ₽150 to ₽200 thousand increased by 24%.

The requirement to obtain compulsory motor third-party liability insurance (OSAGO) is stipulated by Russian law. Driving without it is prohibited, and violators face a fine (Article 12.37 of the Code of Administrative Offenses of the Russian Federation). Furthermore, in the event of an accident, the uninsured party responsible for the damage is responsible for their own compensation, which, given the constantly rising prices of auto parts, entails significant financial costs.

What's happening to MTPL rates amid rising payout volumes?

The Central Bank of the Russian Federation has revised the terms of compulsory motor third-party liability insurance (CMTPL) policies. The rate corridor for car owners has been expanded by 15% in both directions, while the limits for motorcyclists have been adjusted by 40%. These changes are intended to ensure that Russians receive the fairest possible prices for their policies. However, the new approach has sparked outrage. For example, in Novosibirsk and several districts of Ingushetia, the territorial coefficient has doubled, citing unscrupulous driver behavior as the reason.

"In Novosibirsk and Ingushetia, the level of fraud in the compulsory motor insurance (OSAGO) sector has remained high for the past five years, and the average payout is 1.5 times higher than the national average," the expert notes.

Conscientious drivers will be held accountable for the actions of unscrupulous policyholders, as the territorial coefficient in the aforementioned regions will increase for every policy buyer. Experts fear that the consequences of these changes for residents of Novosibirsk and Ingushetia will be dire: purchasing compulsory motor third-party liability insurance will become an impossible task, and insurers will simply shift their risks onto drivers.

10:00 12/16/2025

Source:

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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The Celestial Empire is even closer – VTB will introduce QR code payments in China.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How will QR code payments work in China?

The launch of payments via QR codes in China is expected to take place in 2026 – the management has not specified the exact dates. VTB It hasn't been announced yet. However, we already know how the technology will work:

Russian and Chinese QR codes will be matched. The customer will need to open the VTB app in the store and scan the QR code from the terminal. The system will send a request to the bank for a secure payment. A successful transaction message will appear on the terminal, completing the purchase.

The service is essential for Russian tourists in China, as traditional bank card payments are restricted abroad: Visa and MasterCard have left due to Russian sanctions, and UnionPay has been suspended. banks from Russia operates in other countries with significant restrictions.

In which other countries is VTB Bank's service available?

China isn't the only country where VTB Bank offers QR code payments to Russians. The financial institution previously launched a similar service in Vietnam. The service operates through the Russian-Vietnamese Bank and is available in 3,000 stores across the country (primarily in tourist areas).

"We continue to develop payment infrastructure in countries popular with Russian tourists: in Vietnam, we plan to expand the coverage area for QR code payments," said VTB CEO Andrey Kostin.

The technology has already been implemented in Kyrgyzstan and Tajikistan; the list of countries where VTB provides the service may expand in the future. Sberbank, which previously launched payments via Sber Online in Belarus, Azerbaijan, Vietnam, China, Tajikistan, and Kyrgyzstan. However, the availability of QR code payments depends on the merchant.

09:00 09.12.2025

Source:

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.