Bank of Russia
Bank of Russia closes more small banks
Institutions shuttered for liquidity shortages and AML/CFT breaches, central bank says
Nabiullina warns of low growth in Russian economy
Bank of Russia governor advocates three-year budget rule and structural reforms to counteract economic weaknesses
People: IMF appoints new head of Independent Evaluation Office
Iceland names director of financial stability and Russia appoints head of banking regulation
Bank of Russia records decrease in fraudulent transactions
Central bank says decrease in cyber crime is a result of new centre for Cyber-Attack Monitoring and Response in the Financial Centre; official says Bank of Russia supports initiative for harsher punishment of cyber crime
Emerging markets primed for Fed rate hike, central bank panel says
Emerging market central bankers say improved communication from the Fed has helped them to prepare for future normalisation; central banks have adopted a range of policies to absorb forex shocks
Bank of Russia announces prototype distributed ledger networking tool
Central bank planning further DLT prototypes, deputy governor says; Russia is excluded from using prototype DLT tools used in Western countries
Nabiullina promises ‘profound’ structural change for Russian banking supervision
Current structure “insufficient” to solve Russia’s problems, governor says; first deputy governor Tulin to oversee regulation and supervision
Russian central bank closes eight lenders and reports alleged crimes
Six banks and two credit institutions were shuttered by Russia’s central bank in September; dossiers on alleged “crimes” at six more sent to prosecutors
Book notes: Priests of prosperity: how central bankers transformed the postcommunist world
Juliet Johnson has produced an interesting account of how central banks in former communist regimes were developed at a time when they had little or no experience of modern financial systems
Russian central bank establishes reinsurance company
New company will improve transparency and stability of the market and restore capacity lost to financial sanctions, central bank says; observer says role of the company may be more complex
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