The Bank of Russia has announced the release of the program architecture for its upcoming Financial Congress. The details have been made available on the event's official website.
On April 26, 2024, the Bank of Russia Board of Directors decided to maintain the key rate at 16.00% per annum. Although inflationary pressures are gradually easing, they remain high due to elevated domestic demand outpacing supply capabilities. This situation is expected to slow down the return of inflation to the target more than previously forecasted by the Bank in February.
The Bank of Russia has announced an increase in risk-weight add-ons for unsecured consumer loans and introduced new requirements for car loans, effective from July 1, 2024. This move is intended to limit individual debt burdens, strengthen the macroprudential capital buffer, and improve banks' resilience against potential losses on consumer loans.
The Bank of Russia has announced plans to introduce new requirements for calculating the capital adequacy ratio (CAR) by professional securities market participants, effective from October 1, 2025. These changes aim to refine the assessment of credit risk associated with brokerage clients' positions.
The results for April 2024 regarding the monitoring of maximum interest rates on deposits in Russian rubles by the top ten credit institutions attracting the largest household deposits have been released.
The Bank of Russia has announced changes to the regulation of credit institutions' open currency positions (OCPs). The new regulations introduce a limit on balance-sheet OCPs, accounting for 50% of equity, and establish criteria for fictitious and unreliable hedging of foreign exchange risk. These measures are designed to better balance the currency structure of credit institutions' assets and liabilities while preventing understatement of foreign exchange risk.