Guidelines for the Development of the Russian Financial Market slide image

Guidelines for the Development of the Russian Financial Market

Bank of Russia BANK OF RUSSIA: OVERVIEW The Central Bank of the Russian Federation 14 NEWSLETTER Key news from the Bank of Russia May 23, 2018 The Bank of Russia raises risk ratios on FX loans and securities, effective from July 1. The new FX risk weights are: 110% (from 100%) for exporters, 150% (from 130%) for real estate purchase, 130% (from 110%) for other FX corporate loans. The Bank of Russia tightens the regulation of unsecured consumer credits by reviewing its requirements for risk- weights. The Bank of Russia suggests introducing the principle of proportionality in non-bank financial institutions regulation. Law on rehabilitation of insurance companies was signed. May 1, 2018 April 24, 2018 April 23, 2018 March 29, 2018 March 23, 2018 The Bank of Russia cuts the key rate by 25 bp to 7.25% p.a. The risk ratios for mortgage loans with LTV higher than 80% and 90% are tightened by the Bank of Russia, reaching 150% and 300% respectively. January 1, 2018 Basel III in force: Leverage ratio (except for banks with basic license), NSFR - for D-SIBS; ✓ Unification of personal income tax regimes for Ruble bonds and bank deposits; ✓ Bank of Russia switches to proportional regulation of the banking system; ✓ Capital buffers under Basel III are increased: capital conservation buffer is 1.875%; countercyclical capital buffer is 0%; buffers for systemically important banks are at 0.65% ✓ Banks are required to introduce International Financial Reporting Standard (IFRS) 9, which supersedes IAS 39; ✓ Deposit Insurance Agency increases its base rate at which quarterly payments are made to the deposit insurance fund from 0.12 to 0.15% of the basis for calculation. June 16, 2017 New Banking Sector Consolidation Fund bailout mechanism enacted.
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