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The Bank of Russia has registered a new payment system "Astrasend".

The Bank of Russia has registered a new payment system "Astrasend".

The payment system is designed for sending transfers abroad and within the Russian Federation. The list of countries to which funds can be sent will be published on the website later. 

Transfers are accepted and issued in russian rubles and US dollars

Astrasend became the second payment system registered in 2022. The Bank of Russia added the first Hello system to the list in April of this year. 





#Astrasend

#payment_system

#Bank_of_Russia



The Ministry of Finance of Russia fulfilled its obligations to pay coupon income on Eurobonds.

The Ministry of Finance of Russia fulfilled its obligations to pay coupon income on Eurobonds.

The Ministry of Finance of Russia informs that in accordance with the Decree of the President of the Russian Federation dated June 22, 2022 No. 394 “On the temporary procedure for the execution of state debt obligations of the Russian Federation to residents and foreign creditors, denominated in government securities, the nominal value of which is indicated in foreign currency” funds for the payment of coupon income on bonds of the external bonded loan of the Russian Federation maturing in 2042 (ISIN: XS0767473852, US78307ADE01) in the amount of RUB 4.9 billion. (the equivalent of USD 84.4 million) were received by the paying agent for Eurobonds (NCO JSC National Settlement Depository). 

Thus, the obligations to service government securities of the Russian Federation have been fulfilled by the Russian Ministry of Finance in full.

 

Ministry of Finance of the Russian Federation
+7 (495) 987-93-72

 

Investments in the oil and gas industry until 2030.

Investments in the oil and gas industry until 2030.

The Russian state financial enterprise TREASURY offers foreign Chinese investors, according to the investment agreement signed between Russia and China, investments in the Russian oil and gas sector Gazprom. 

Investments involve the investment of funds in the Russia-China gas transportation system under the guarantees of the Russian Government or the Federal Treasury of Russia. 

Minimum investment: any amount (depends on negotiations with the Chinese side).

Investment period: until 2030 

Annual percentage: 9.5% per annum + premium* 

*the premium is negotiated separately in the Contract. 

Payment of interest and body parts: quarterly, on the 15th of the last month in the quarter. 

The Investment Agreement is confirmed by 100% guarantees of the financial institution of Russia.


Administration of the Treasury of the Krasnodar branch.


Bank of Russia cuts key rate by 50 bp to 7.50% p.a.

On 16 September 2022, the Bank of Russia Board of Directors decided to cut the key rate by 50 basis points to 7.50% per annum. Current consumer price growth rates remain low, contributing to a further slowdown in annual inflation. This is due to both the influence of a set of one-off factors and subdued consumer demand. Developments in business activity are better than the Bank of Russia expected in July. However, the external environment for the Russian economy remains challenging, invariably putting significant constrains on economic activity. Inflation expectations of households and price expectations of businesses remain elevated.

Annual inflation declined in August to 14.3% (after 15.1% in July); according to a 9 September estimate, it is down to 14.1%.

Monetary conditions continued to ease, and the Bank of Russia views them as overall neutral. Following the July decline in the key rate, yields on short- and medium-term OFZs decreased. Yields on long-term OFZs did not change significantly. There was a further drop in loan and deposit, especially short-term, rates.

The Bank of Russia Board of Directors will hold its next rate review meeting on 28 October 2022



*press-center of Bank of Russia

 

RUSSIAN FEDERATION - FEDERAL LOAN BONDS

RUSSIA - FEDERAL LOAN BONDS

The Ministry of Finance of Russia plans to place federal loan bonds by the end of September for 40 billion rubles, the first auction is on September 14, 2022

Auctions are also scheduled to be held on September 21 and September, 28. 

 

The Bank of Russia creates new incentives for the development of commodity trading systems.

The Bank of Russia is canceling the requirements for commodity trading systems to have backup complexes of software and hardware, conduct an operational audit and form a technical committee. This will significantly reduce the costs of the systems, which will serve as an incentive to attract new trading platforms and bidders to the organized commodity market

The Bank of Russia is expanding the possibilities for setting a market price for goods. It will be determined not only by the results of trading in the mode of non-address transactions, as it is now, but also by the results of one-sided auctions, subject to the competitiveness of the participants and the competition of price offers.


@Treasury

The Bank of Russia lowered the key rate to 9.5% per annum.

 The Bank of Russia lowered the key rate to 9.5% per annum

  Reasons for the decline

1. Price growth in May - completely stabilized. 

2. As of May 31, 2022, the decline in economic activity has halted. 

3. Monetary conditions softened in some sectors of the economy, but generally remained tight. 

4. Fiscal policy becomes stimulating. 


According to the forecast, the key rate this year will be 9-12% per annum. 


Source: TASS, Central Bank of Russia.  

The Bank of Russia has lowered the key rate to 11% per annum.

The Board of Directors of the Bank of Russia decided to reduce the key rate from May 27, 2022 to 11.00% per annum. 

The inflow of funds for term ruble deposits continues. Credit activity remains low. 

The risks to financial stability have decreased somewhat. Capital controls have become softer. 

The Bank of Russia will make further decisions on the key rate taking into account the actual and expected dynamics of inflation relative to the target, the process of structural adjustment of the economy, as well as assessing the risks from internal and external conditions and the reaction of financial markets to them, and admits the possibility of lowering the key rate at the next meetings. 

The next meeting of the Board of Directors of the Bank of Russia is scheduled for June 10, 2022. 

The Bank of Russia cuts the key rate to 17.00% p.a.

The Bank of Russia Board of Directors decided to cut the key rate by 300 basis points to 17.00% per annum from 11 April 2022

External conditions for the Russian economy are still challenging, considerably constraining economic activity. Financial stability risks are still present, but have ceased to increase for the time being, including owing to the adopted capital control measures. There is a steady inflow of funds to fixed-term deposits. 

Annual inflation will continue to rise due to the base effect. Yet, the latest weekly data point to a noticeable slowdown in the current price growth rates, including owing to the ruble’s exchange rate dynamics. 

The tightening of monetary conditions already in place is partly offset by the lending support programmes launched by the Government and the Bank of Russia, but it will continue to limit pro-inflationary risks. 

Today’s decision reflects a change in the balance of risks of accelerated consumer price growth, decline in economic activity and financial stability risks. In its further key rate decisions, the Bank of Russia will take into account risks posed by external and domestic conditions and the reaction of financial markets, as well as actual and expected inflation dynamics relative to the target and economic developments over the forecast horizon, and holds open the prospect of further key rate reduction at its upcoming meetings. 

The Bank of Russia Board of Directors will hold its next rate review meeting on 29 April 2022. 

The procedure for issuing permits for certain operations.

The procedure for issuing permits for certain operations

On March 25, 2022, the Board of Directors of the Bank of Russia decided

1. For the mandatory sale of foreign currency by a resident participating in foreign economic activity within a different period than that established by paragraph 2 of Decree of the President of the Russian Federation No. 79 dated February 28, 2022. 

2. For the non-compulsory sale of foreign currency by a resident participating in foreign economic activity in the manner prescribed by clause 2 of Decree No. 79, in the amount of foreign currency. 

3. For the implementation of operations for payment by a resident of a share, contribution, share in the property (authorized or share capital, unit fund of a cooperative) of a legal entity - non-resident. 

4. For the implementation of operations on the contribution of a resident to a non-resident within the framework of the implementation of a simple partnership agreement with investment in the form of capital investments (agreement on joint activities). 


!!! To consider the issue of issuing a permit by the Bank of Russia, a resident submits an application to the Bank of Russia according to the approved forms.


Bank of Russia Board of Directors 

Decision of the Board of Directors of the Bank of Russia

 Bank of Russia Board of Directors

 On March 25, 2022, the Board of Directors of the Bank of Russia decided:

    In accordance with clause 1 of Decree of the President of the Russian Federation No. 126 dated March 18, 2022 “On Additional Temporary Economic Measures to Ensure the Financial Stability of the Russian Federation in the Sphere of Currency Regulation”, to establish the following amounts of individual transactions of residents and non-residents from March 27, 2022: 

1. Prepayment or advance payment by residents in favor of foreign legal entities and individuals (hereinafter referred to as non-resident) is carried out within 30% of the amount of obligations stipulated under each contract (agreement) of a resident of the following type: 

- Contracts, the terms of which provide for the provision of services by a non-resident. 

- Contracts, the terms of which provide for the performance of work by a non-resident, the transfer by a non-resident of information, the results of intellectual activity, including exclusive rights to them. 

2. The limitation on the amount of advance payment or advance payment provided for in paragraph 1 of this decision does not apply to the following contracts (agreements): 

- Contracts (agreements) providing for the purchase from a non-resident and (or) the provision of services by a non-resident related to the purchase on the territory of the Russian Federation (outside the territory of the Russian Federation) of fuels and lubricants (bunker fuel), food, inventory and other goods ( with the exception of spare parts and equipment) necessary to ensure the operation and maintenance of vehicles, regardless of their type and purpose, en route or at intermediate stops or parking; 

- Contracts (agreements) providing for the provision of financial services by non-residents to residents, including insurance and reinsurance contracts. 

3. The purchase of foreign currency in the domestic foreign exchange market of the Russian Federation by non-resident legal entities that are foreign persons of states that commit hostile actions is carried out in the amount of 0 US dollars or other foreign currency. 

4. The amount of transactions within 30% of the amount of obligations under the contracts (agreements) specified in paragraph 1 of this decision is determined using the official exchange rates of foreign currencies against the ruble established by the Bank of Russia on the date of execution by the authorized bank of residents' instructions for making prepayment or advance payment . 


Bank of Russia Board of Directors

March 26, 2022


 

The Bank of Russia increases the key rate by 1050 b.p. to 20.00% p.a.

On 28 February 2022, the Bank of Russia Board of Directors decided to increase the key rate by 1050 b.p. to 20.00% per annum. 

The Central Bank will make further decisions on the key rate based on risk assessment from external and internal conditions and other factors. 

Expanding demand continues to exceed the capacity to build up output. Given the limited nature of available labour resources, the rapid recovery of economic activity exacerbates inflationary pressure. 

The situation in the global commodity markets remains proinflationary. 

Inflation expectations do not decline so far, hitting multi-year highs. In this environment, the balance of risks has tilted even more towards proinflationary ones. 

The Bank of Russia’s monetary policy stance is aimed to return inflation to 11%.  

The Bank of Russia increases the key rate by 100 b.p. to 9.50% p.a.

On 11 February 2022, the Bank of Russia Board of Directors decided to increase the key rate by 100 b.p. to 9.50% per annum. 
Inflation is developing appreciably above the Bank of Russia’s October forecast. 
Expanding demand continues to exceed the capacity to build up output. Given the limited nature of available labour resources, the rapid recovery of economic activity exacerbates inflationary pressure. 

The situation in the global commodity markets remains proinflationary. Inflation expectations do not decline so far, hitting multi-year highs. In this environment, the balance of risks has tilted even more towards proinflationary ones. 

The Bank of Russia’s monetary policy stance is aimed to return inflation to 4%. 

The Bank of Russia Board of Directors will hold its next key rate review meeting on 18 March 2022. The Board decision press release is to be published at 13:30 Moscow time.  


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