Financial Sector Overview

Bank of Russia The Central Bank of the Russian Federation 38 FINANCIAL SECTOR OVERVIEW SECURITIES MARKET (4) Demand for OFZS placements remains sustainably high Figure 43: OFZ placement dynamics in 2018 and 2019 (RUB bn) 90 60 80 Foreign bank subsidiaries 9 16 Non-credit financial institutions Other banks Systemically-important credit institutions Activity ratio/Meet demand ratio*, rhs 8 | Non-residents 10 70 60 60 50 40 30 20 10 0 10.01.2018 24.01.2018 07.02.2018 21.02.2018 07.03.2018 21.03.2018 04.04.2018 25.04.2018 23.05.2018 06.06.2018 20.06.2018 04.07.2018 18.07.2018 01.08.2018 15.08.2018 03.10.2018 17.10.2018 31.10.2018 14.11.2018 28.11.2018 12.12.2018 26.12.2018 16.01.2018 30.01.2019 13.02.2019 27.02.2019 13.03.2019 27.03.2019 *Starting January 1, 2019 the "activity ratio" calculated as the volume of demand for OFZ to the volume of OFZ supply announced by the Ministry of Finance was replaced by the "meet demand" ratio calculated as the volume of the placement to the volume of demand for OFZ Source: Bank of Russia, Ministry of Finance, National Settlement Depository 7 9 5 4 3 2 1

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