The national financial account records transactions involving financial assets and liabilities among resident institutional units and between these units and the rest of the world. By extension, the flow of funds measures financial statistics where both parties to a transaction are shown, as well as the nature of the financial instrument being transacted.
The loan portfolio of microfinance organizations expanded by 7% over the first quarter of 2024 amid high consumer demand. Predominantly medium-term loans were issued. Payday loans, which are traditionally the most expensive ones, accounted for 32% of the total amount of loans granted for several quarters. This is the lowest amount since 2017.
The Integrated Economic Accounts (IEA), as prescribed by the System of National Accounts 2008 (2008 SNA), provide a comprehensive view of the accounts for the total economy, including balance sheets. This framework allows for the principal economic relations and main aggregates to be displayed over a specified period. The IEA consists of three distinct macroeconomic accounts: the current and capital account (CURCAP), the non-financial balance sheet and accumulation account (NFBSAA), and the financial balance sheet and accumulation account (FBSAA). These accounts can also be...
Since January 9, 2024, the Bank of Russia has adhered to a previously announced procedure for conducting transactions in the domestic foreign exchange (FX) market related to replenishing and using the funds of the National Wealth Fund (NWF). This includes all transactions carried out with such funds in 2023. Consequently, the Bank of Russia reports the amounts of transactions performed in the domestic FX market from July 1 to December 28, 2024.
The June 2024 results of the monitoring of maximum interest rates on deposits in Russian rubles by the top ten credit institutions attracting the largest amount of household deposits are as follows:
Today, the House Financial Services Subcommittee on Housing and Insurance, led by Chairman Warren Davidson (OH-08), is holding a hearing entitled “Housing Oversight: Testimony of the HUD and FHFA Inspectors General.”
Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr (KY-06), is holding a hearing entitled “Stress Testing: What’s Inside the Black Box?”
According to InFOM’s survey, one-year inflation expectations of households edged up to 11.9% in June 2024 from 11.7% in the previous month. The increase was driven by growing expectations among surveyed respondents with savings. Expectations of respondents without savings edged down but were still around the level of autumn 2023.
Authorised representatives of the Bank of Russia, acting in compliance with Article 76 of Federal Law No. 86-FZ ‘On the Central Bank of the Russian Federation (Bank of Russia)’, dated 10 July 2002, were assigned to 88 credit institutions.
The Bank of Russia, in coordination with Public Joint Stock Company ‘Leasing company Europlan’ (PJSC LC Europlan), has established facts of market manipulation in transactions involving the Issuer’s bonds in on-exchange trading.
The Bank of Russia has proposed a discussion on two models regarding the operation of exchanges and brokers: maintaining functional differentiation or allowing a combination of functions. The potential consequences, risks, and future regulatory developments are outlined in the Bank of Russia's consultation paper titled "Universalisation or Specialisation? Stock Market Participants’ Roles."
Governor Tiff Macklem addressed the Winnipeg Chamber of Commerce, discussing the labour market's adjustment to higher interest rates and slower economic growth. He emphasized the importance of a strong, inclusive labour market for long-term growth.
The Russian economy has experienced four major crises over the past decades. To determine which anti-crisis decisions the Bank of Russia made, whether they were efficient, and what lessons each crisis taught, one can refer to the Bank of Russia’s analytical paper.
The Bank of Russia has launched a new online resource, providing access to both modern books and periodicals relevant to everyday work, as well as unique antique books detailing the history of financial science, economics, and banking in Russia and worldwide.
Elvira Nabiullina, the Governor of the Bank of Russia, addressed the 10th All-Russian Congress of Financial Education Volunteers on June 21, 2024. She emphasized the significance of social initiatives in financial education and underscored the importance of trust in information sources.
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued a statement in response to the Department of the Treasury’s notice of proposed rulemaking (NPRM) implementing the White House’s Executive Order on outbound U.S. investment to China.
Annual inflation across Russia increased by 0.46 percentage points compared to April, reaching 8.3%. Price growth accelerated in 71 Russian regions. The North Caucasian Federal District saw the most significant acceleration, while inflation slightly slowed down in the Urals.
The publication covers the main aspects of the discussion about the economic situation and inflation, monetary and external conditions, and alternatives to the key rate decision.