The market value of tokenized assets is projected to surpass $10 trillion by 2030, according to an October 2023 report by Roland Berger, which will redefine the dynamics of asset ownership and investment.
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.
The press conference on the draft Monetary Policy Guidelines for 2025–2027 is scheduled to be held on August 29 at 15:00. The event will be conducted by Bank of Russia Deputy Governor Alexey Zabotkin.
The estimate of inflation expected by Russians in a year rose to 12.9% in August 2024 from 12.4% a month earlier, according to InFOM’s survey. The rise was accounted for by respondents with savings. Inflation expectations of those without savings decreased but remained elevated.
The growth rate of the portfolio of loans to developers increased from 6% in Q1 2024 to 13% in Q2 2024, following a rapid increase in housing under construction. As a result, the total portfolio reached ₽7.4 trillion.
Authorised representatives of the Bank of Russia, acting in compliance with Article 76 of Federal Law No. 86-FZ, dated 10 July 2002, 'On the Central Bank of the Russian Federation (Bank of Russia)', were assigned to 87 credit institutions.
The Bank of Russia has recommended that insurance companies consider paying compensation to victims in the Belgorod, Bryansk, and Kursk regions. This proposal covers personal insurance contracts and real estate insurance contracts.
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:
According to preliminary data, mortgage lending increased by 0.7% in July after a 3.1% rise in June. The Subsidised Mortgage programme ended in early June, but several loans were still granted under contracts concluded before July 1, 2024. The Family Mortgage programme was relaunched on July 11, 2024, under new conditions. It will take several months to accurately assess the impact of these amendments to government-subsidised programmes; therefore, it is too early to draw any conclusions.
The traffic accident report form that car drivers receive with their CMTPLI policies will now include a QR code. This code will link to the Public Services Portal, detailing the procedure for reporting a traffic accident using the European Accident Statement without involving the traffic police. It also offers users an option to download a mobile application for this purpose.
The requirements for the models that banks use to assess borrowers’ incomes when calculating their debt service-to-income ratios (DSTI) will change from 1 November 2024. The relevant amendments have been made to Bank of Russia Ordinance No. 6579-U.
The South African Reserve Bank (SARB), in collaboration with the Department of Basic Education (DBE), today announced the winners of the 2024 Monetary Policy Committee (MPC) Schools Challenge. This year, 12 schools from across the country were shortlisted as finalists. This reflects both an interest in, and maturity of, the competition.