Insurance companies paid a significant part of this amount to residents of 39 Russian regions, whose property insured under voluntary programs was damaged by the spring flood. A substantial share of this compensation was paid in the Volga and Urals Federal Districts, according to the Review of Key Indicators of Insurers for 2024 Q2.

The Bank of Russia has extended restrictions on foreign cash withdrawals for another six months, until March 9, 2025. This decision comes in response to sanctions against Russia that prevent domestic financial institutions from purchasing cash from Western countries.

As of the end of the month, the ruble exchange rate returned to the levels of early June 2024. By the end of August, foreign exchange spreads were almost unchanged despite the holiday season.

Nominal interest rates increased in most financial market segments during August, according to recent data.

In August 2024, the inflow of payments increased by 2.5% compared to the 2024 Q2 average level, following a 1.2% drop in July. The overall growth in incoming payments over the first two months of 2024 Q3 was weaker than that in 2024 H1.

The Bank of Russia plans to expand the compulsory motor third-party liability insurance (CMTPLI) rate corridor, both upwards and downwards, by 11.57% for public transport (trolleybuses, trams, and regular passenger buses) and by 20% for motorcycles and trucks with a permissible maximum weight of up to 16 tonnes, as stipulated by the regulator’s draft ordinance. The base CMTPLI rates for personal cars will not change.

The August 2024 results of the monitoring of the maximum interest rates on deposits in Russian rubles of the top ten credit institutions attracting the largest amount of household deposits are as follows:

The increase in consumption decelerated in July-August, with several macro-regions reporting signs of its decline. Demand for non-food products decreased, while higher deposit rates supported households' propensity to save.

Flash estimates indicate a more moderate growth in economic activity in early Q3 relative to Q2. Retail lending and consumption expanded at a slower pace. However, overall demand still far exceeds supply.

Open application programming interfaces (Open APIs) will allow companies to exchange information about their customers with their consent more promptly and offer them beneficial personalized services. Additionally, individuals will be able to manage their data effectively. The main principles and stages of Open API implementation are published on the Bank of Russia website.

The Bank of Russia has introduced an online financial literacy course designed for extracurricular activities targeting students in grades 3 to 6. The course comprises 68 lessons covering a range of financial topics, featuring examples, tasks, and tips.

On August 30, 2024, the Bank of Russia will issue a 3-ruble silver commemorative coin titled ‘The 300th Anniversary of the Saint Petersburg State University’ as part of its Historical Events series. The university was founded by the Decree of Peter the Great on February 8, 1724 (January 28 under the Julian calendar) based on the Academy of Sciences and became Russia's first university. Today, Saint Petersburg State University is one of Russia's most renowned universities and a major research and development center.

In 2024 Q2, investors maintained their interest in the stock market despite rising rates on bank deposits. The number of brokers' unique clients reached 32.4 million, and the net inflow of funds into their accounts totaled ₽299 billion.

The Bank of Russia has proposed a discussion on measures to enhance the transparency of the cash-in-transit market, aiming to create equal conditions for participants and support a balanced tariff policy for their services.

A new stage of the testing of transactions with real digital rubles starts on 1 September 2024. The total number of participants will markedly increase.

In the second quarter of 2024, the overall value of portfolios of non-governmental pension funds (NPFs) and the Social Fund of Russia (SFR) increased to ₽7.7 trillion. This growth was primarily driven by a rise in NPFs’ pension reserves, which exceeded ₽1.9 trillion by the end of June.

The Bank of Russia has published its draft Monetary Policy Guidelines for 2025–2027, outlining the goals and principles of its monetary policy. The document presents a baseline scenario along with three alternative economic development scenarios: disinflationary, proinflationary, and risk.

On August 29, 2024, Bank of Russia Deputy Governor Alexey Zabotkin delivered a speech on the draft Monetary Policy Guidelines for 2025–2027. The document outlines the central bank's annual strategy for the upcoming three years.

In the second quarter of 2024, the value of assets held by management companies increased to ₽23.5 trillion. This growth was largely driven by inflows into unit investment funds (UIFs) and their positive returns.

The Bank of Russia's regular assessment of the Sberbank payment system has shown that it complies with the Bank of Russia's recommendations on risk management in payment systems.