In September, the MOEX Russia Index saw an increase of 7.8%, marking its first rise since May. The stock market was influenced by news related to dividends from certain companies.
The Coin Week event in Russia, running from October 7 to October 20, 2024, offers a convenient opportunity for individuals to exchange coins for banknotes. This year, the initiative expands beyond banks to include chain stores as locations where people can deposit coins into their bank accounts.
On October 7, 2024, the Bank of Russia introduced a new gold investment coin titled 'Saint George the Victorious' with a denomination of 100 rubles. This coin, catalogued as No. 5217-0048, weighs 15.55 grams and boasts a fineness of 999/1,000. It is circular with a diameter of 30 mm.
The South African Reserve Bank (SARB) has taken action against HSBC Bank Plc's Johannesburg Branch due to non-compliance with the Financial Intelligence Centre Act 38 of 2001. This decision follows an inspection conducted in 2021.
The South African Reserve Bank (SARB) has taken action against Bidvest Bank Limited due to non-compliance with the Financial Intelligence Centre Act 38 of 2001. This decision follows an inspection carried out in 2022.
The Interbank Currency Council, comprising the Central Bank of the Russian Federation and the National Bank of the Republic of Belarus, convened for its 60th meeting in Yaroslavl. The gathering was attended by Elvira Nabiullina, Governor of the Bank of Russia, and Pavel Kallaur, Chairman of the Board of the National Bank of Belarus.
The Bank of Russia has released the results of its September 2024 monitoring of maximum interest rates on deposits in Russian rubles. The data pertains to the top ten credit institutions attracting the largest amount of household deposits.
Abigail Dean, Global Head of Strategic Insights for Nuveen Real Assets said that demand for real assets is increasingly driven by megatrends like urbanization and energy needs. With inflation stabilizing and interest rates holding steady, she sees this as an opportune moment for investors to reenter the market, as corporate prices may be at a low point while natural capital shows continued value gains.
The Bank of Canada's Board of Directors has commenced a recruitment process to appoint an additional external Deputy Governor. The Board has established a selection committee and engaged the services of recruitment firm Boyden to facilitate this search. Advertisements for the position have been posted online.
Private credit is rapidly transforming the financial landscape as high interest rates and regulatory changes create new opportunities for investors. Zach Lewy, CEO of Arrow Global, warns that inflation and high interest rates, coupled with the rise of populist and expansionary fiscal policies, will pressure central banks to act as a force of restraint.
On October 2, 2024, the Bank of Russia released new silver commemorative coins as part of the Jewellery Art in Russia series. The coins, known as 'Fabergé Scoop,' come in denominations of 3 rubles and two versions of 25 rubles—one with a colored coating.
The approach to international trade has shifted from measuring the face value of a product to considering where production occurs. This change affects how the sophistication of a country's export basket is assessed. A recent paper utilizes the latest OECD Trade in Value Added database to re-evaluate cross-country export sophistication, as defined by Hausmann et al. (2007). The findings indicate that the gap between high-income and low-income countries' export sophistication is wider when viewed from a value-added perspective.
Governor Lesetja Kganyago of the South African Reserve Bank addressed the 2024 Payments Conference, focusing on the evolution and future of payment systems. In his opening remarks, Governor Kganyago highlighted the journey of modernizing payments, noting both past achievements and current challenges.
Non-governmental pension funds (NPFs) in Russia are now able to purchase shares during initial public offerings (IPOs) if the aggregate value in on-exchange trading reaches at least ₽3 billion. This marks a significant reduction from the previous threshold of ₽50 billion.
Data from credit history bureaus (CHB) indicate an increase in lending to borrowers under 35 years old by 8 percentage points across all lending segments.
Starting October 1, 2024, the sale of complex insurance products with an investment component to non-qualified investors will require a test to ensure customers understand the specific features and risks. This requirement is part of a new law that took effect on the same date.
Low interest rates on credit cards during promotional periods cannot be used as a basis for calculating the total cost of credit (TCC), according to a recent directive from the regulator. The relevant information letter has been sent to credit institutions.
The Bank of Canada Museum has launched a new educational resource titled "You Are the Economy." This free suite of six lesson plans is aimed at Grade 7–12 students across Canada, focusing on economic and financial literacy. The resource is available in both official languages and aligns with the latest Canadian curricula.