The Bank of Canada has introduced its first Reconciliation Action Plan, marking a significant step in its commitment to improving relations with Indigenous Nations and Peoples. The plan aims to foster an inclusive organizational culture and support thriving Indigenous economies.
On September 23, 2024, the Bank of Russia issued commemorative coins for the Russian (Soviet) Animation series titled "Hedgehog in the Fog." The release includes a 3-ruble silver coin (Catalogue No. 5111-0510), a 25-ruble nickel-plated steel coin (Catalogue No. 5715-0003), and a 25-ruble cupronickel coin with colored coating (Catalogue No. 5015-0072).
The growth rate of corporate lending remained high in August, showing a 1.9% increase compared to 2.3% in July. Companies from various sectors raised borrowings, primarily through working capital loans.
The Bank of Russia has extended restrictions on money transfers abroad for another six months. These measures will be effective from October 1, 2024, through March 31, 2025.
The Banking Standards Committee has adopted the Standard for Protecting the Rights and Legitimate Interests of Mortgage Borrowers, approved by the Bank of Russia. The new standard aims to minimize high-risk mortgage lending schemes and ensure banks provide borrowers with detailed information about lending terms and associated risks.
The Bank of Russia has announced an extension of restrictions on money transfers abroad for non-residents from states it considers unfriendly. These measures, which apply to both individual and legal entity accounts managed by Russian brokers and trust managers, will be in place for another six months starting October 1, 2024.
Ahead of a scheduled hearing with the full Securities and Exchange Commission (SEC), Republicans from the House Financial Services and Senate Banking, Housing, and Urban Affairs Committees have called on SEC Chair Gary Gensler to rescind Staff Accounting Bulletin (SAB) 121. The letter was led by Chairman Patrick McHenry (R-NC) and Senator Cynthia Lummis (R-WY).
Remote lending channels are expanding primarily due to the technological capabilities of large companies. Over the quarter, the proportion of online loans issued by microfinance organizations (MFOs) grew from 81% to 84%, and in the segment of payday loans, they accounted for 96%.
Banks will not be allowed to charge citizens for money transfers in favor of the government (C2G-payments) made via the Faster Payments System (SBP). This includes payments for kindergartens, extracurricular clubs and activities, as well as taxes and fines.
Over the year since July 2023, the number of regions with increased risks of fraud in the compulsory motor third-party liability insurance (CMTPLI) sector has dropped from ten to four. These data are given in the latest issue of the Monitoring of Regional Risks of Misconduct in CMTPLI.
On October 1, 2024, the Bank of Russia will launch a service that allows users to request and obtain reference information on whether the Know Your Customer (KYC) Platform classifies an individual entrepreneur or a legal entity as a party with a high risk of involvement in suspicious transactions.
By the Order of the Bank of Russia Governor, Andrey Gangan has been appointed as Director of the Monetary Policy Department, effective from October 2, 2024.
Representatives of the central banks of seven BRICS countries participated in cyber drills organized by the Bank of Russia. The event, held over several days, focused on training participants to counter urgent cybersecurity threats.
On September 19, 2024, Oversight and Investigations Subcommittee Chairman Bill Huizenga (MI-04) led Republicans on the House floor as lawmakers debated H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act.
The U.S. House of Representatives has passed H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, sponsored by Subcommittee Chairman Bill Huizenga (MI-04) of the Financial Services Committee’s Republican ESG Working Group.
External Deputy Governor Nicolas Vincent provided an inside look at how the Bank of Canada’s Governing Council reaches its monetary policy decisions. Speaking to the Chambre de commerce et industrie de Sherbrooke, Vincent detailed the comprehensive process undertaken by the council.
Annual price growth decelerated in 51 regions in August, most notably in the Primorye Territory and the Kaliningrad Region. Over the year, prices increased by 9.1% across Russia as a whole, which is slightly lower than the July values.
Today, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Blaine Luetkemeyer (MO-03), is holding a hearing entitled “Protecting Americans' Savings: Examining the Economics of the Multi-Billion Dollar Romance Confidence Scam Industry.”