Bank of Russia
Bank of Russia centre records over 20 ‘major’ attacks on payment systems
Attackers attempted to steal 2.87 billion rubles from Russian bank payment systems, cyber-security report reveals; central bank seeks to amend legislation to allow the suspension of suspicious transactions
Russian public to vote on new banknote designs
The 200 and 2,000 ruble notes will bear symbols of Russian cities voted on by public; winning designs announced in October 2016, notes to enter circulation in 2017
Russian first deputy governor warns of dollarisation risks
Russian banks and non-financial companies are creating risk for the economy by demanding foreign currency-denominated loans and deposits, a senior Bank of Russia executive warns
Bank of Russia unveils framework for insurance industry regulation
Russia’s central bank will monitor insurance companies for compliance with financial ratios and other indicators; has set up institute for risk management in insurance industry
Bank of Russia obliges non-banks to join officially recognised self-regulatory bodies
All non-bank financial institutions in Russia must join one of seven officially recognised self-regulatory organisations; newly formed companies must comply within 180 days
PBoC confirms Russian swap transactions
Chinese and Russian central banks disclose 'several currency swap trades' since October, but do not disclose further details
Bank of Russia proposes regular stress tests for private sector pension funds
Russian central bank proposes making all private sector pension funds implement formal risk management plans, including monthly assessments and quarterly stress tests
Bank of Russia gains power to demand electoral candidates’ financial information
Russia’s central bank announces it can compel financial institutions to hand over the financial records of all candidates for elected office, and their spouses and ‘underage children’
Bank of Russia holds after oil prices enter ‘risk scenario’
The falling oil price puts Russia at increased risk of recession while inflationary pressures grow, the Bank of Russia says, as it keeps its policy rate unchanged
Russian and Chinese central banks sign MoU
The governors of the Russian and Chinese central banks sign memorandum of understanding; will now be able to issue bonds in each other’s markets
Nabiullina says ‘risk’ scenario for Russian economy more likely now
Governor Elvira Nabiullina fears oil prices may fall further and have an adverse affect on the economy, as the Bank of Russia leaves its policy rate unchanged
Bank of Russia presents strategic plan for financial sector
Bank of Russia aims to create financial ombudsman, update regulatory regime and develop bond market as part of first strategic development plan
Russian corporate banking recovers despite sanctions and oil price fall, governor says
Bank of Russia ready to expand for large-scale foreign exchange operations if oil price falls
People: Philadelphia Fed appoints new supervision head; Bank of Russia takes on HSBC economist
Philadelphia Fed announces William Spaniel as head of supervision, regulation and credit department; Alexander Morozov joins Bank of Russia as head of research and forecasting; and more
Russian governor weighs exchange rate pass-through
Elvira Nabiullina discusses the bank of Russia’s estimates for how much the depreciation of the ruble will impact inflation, conceding prices have increased faster than expected
Russian governor seen dissuading private sector from large dollar holdings
Russian central bank governor Elvira Nabiullina reportedly joined prime minister Dmitry Medevev in telephoning banks and major export companies about their holdings of dollars
Bank of Russia steps up withdrawal of banking licences
Russia’s central bank has increased the number of licenses it withdraws from banks and insurance companies, which one analyst attributes to widespread systemic problems
Bank of Russia presses ahead with rating agency plans
Russian central bank governor Elvira Nabiullina says banking sector is ‘safe’ and economy will soon have its own financial ratings agency and electronic payment system
Ruble plummets on Fed rate hike expectations
As speculation on the timing of a Fed rate hike heats up, emerging market currencies are tumbling
IMF warns on sanctions impact as Russia cuts rates
Article IV report highlights problem of high inflation and low growth, coupled with financial instability resulting from sanctions, and calls for rate cuts to continue at a 'prudent pace'
Nabiullina: Bringing down inflation still Bank of Russia’s main concern
Central bank governor tells parliament that inflation is still the ‘priority task’ despite announcing plans to rebuild forex reserves earlier in the month
Bank of Russia cuts key rate and moves to replenish foreign exchange reserves
Central bank continues easing cycle with 100bp cut, while stronger ruble gives room to replenish reserves
Russia’s Nabiullina dismisses QE possibility
Bank of Russia governor says quantitative easing is not on the table but further rate cuts are likely; sees signs that tough policy stance is working as ruble begins to recover
Brazil’s central bank launches financial education website
The Central Bank of Brazil wants to ‘get closer to the population’, thus launching a new website with contents, videos and online courses on financial education