News from December 2024

South Africa's net international investment position decreases in Q3 2024

South Africa's net international investment position (IIP) saw a decline in the third quarter of 2024.

Corporate governance declines amid regulatory easing and sanctions

Publicly listed companies claim their corporate practices remain robust, reporting 77% compliance with the recommendations specified in the Corporate Governance Code.

Bank of Russia partners with major firms to boost employee financial literacy

The Bank of Russia has initiated a project to enhance financial literacy among employees in collaboration with major corporate employers.

Bank of Russia amends financial resolution plan for JSC MOSOBLBANK

The Bank of Russia has given its approval for amendments to the plan involving the State Corporation Deposit Insurance Agency in bankruptcy prevention measures for JSC MOSOBLBANK.

Bank of Russia reports December max interest rates on deposits

The Bank of Russia has released the results for December 2024 regarding the maximum interest rates on deposits in Russian rubles.

Bank of Russia announces annual publication on non-financial institutions

The Bank of Russia has announced plans to release statistics on the financial condition of Russian non-financial institutions.

Bank of Russia maintains key rate amid concerns over inflation trends

The Bank of Russia has released a summary of its recent key rate discussion, highlighting several important aspects concerning the economic situation, inflation, monetary and external conditions, and alternatives to the key rate decision.

Bank of Russia issues guidelines for selling financial products remotely

The Bank of Russia has issued methodological recommendations advising financial institutions against using marketing techniques that prioritize sellers' benefits over consumers.

Bank of Russia reports on partnership financing experiment outcomes

The Bank of Russia has reported initial results from its partnership financing experiment, which commenced on September 1, 2023.

Bank of Russia outlines licensing rules for foreign banks

The Bank of Russia has established a procedure for licensing foreign bank branches operating within the country.

Bank of Russia updates method for setting official foreign exchange rates

The Bank of Russia announced changes to the method of setting official foreign exchange rates, effective from December 27, 2024.

Bank of Russia adjusts SME loan risk assessment approaches

The Bank of Russia's Board of Directors has decided to adjust its risk assessment approaches for loans issued to small and medium-sized enterprises (SMEs).

Bank of Russia unveils new payment system development guidelines through 2027

The Bank of Russia has announced the approval of its National Payment System Development Guidelines for the period until 2027.

Bank of Russia revokes Garant-Invest Bank's license due to legal violations

The Bank of Russia has revoked the banking license of GARANT-INVEST BANK, a Moscow-based financial institution.

Bank of Russia advises on improving unit-linked life insurance

The Bank of Russia has issued recommendations for insurers to enhance the appeal of unit-linked life insurance (ULLI) programs.

Bank of Russia announces forex market transactions for early 2025

The Bank of Russia is set to recommence its regular fiscal rule-based operations in the domestic foreign exchange market starting January 9, 2025.

Bank of Russia extends support measures for credit history categories

The Bank of Russia has announced that starting January 1, 2025, a support measure outlined in Clause 3 of the Bank of Russia Information Letter No.

Bank of Russia mandates options for engine power specification in e-CMTPLI policies

When selling electronic compulsory motor third-party liability insurance (CMTPLI) policies, insurers must allow consumers to specify engine power in either kilowatts or horsepower, as indicated in the consumer's documents.

Inflation expectations rise as consumer sentiment hits two-year low

December 2024 recorded a rise in one-year-ahead household inflation expectations, increasing to 13.9% from 13.4% in November, according to the InFOM survey.

Inflation rises in most Russian regions, led by Volgograd

Annual inflation increased in most Russian regions during November, with a notable rise observed in the Volgograd Region.