Russian Financial Sector Update

Bank of Russia BANK OF RUSSIA: OVERVIEW The Central Bank of the Russian Federation COMPLIANCE WITH INTERNATIONAL STANDARDS Russia complies with or implements key international standards and best practices FATF Russia's Anti-Money Laundering system is compliant with FATF Recommendations BANK FOR INTERNATIONAL SETTLEMENTS MONEY MONE TARY FUND High FSAP grades in all surveyed segments, including securities market, insurance and payment infrastructure THE WORLD BANK BRD -IDA Russia ranks #35 in DOING BUSINESS-2018 ratings ATZ OICU-IOSCO Banking regulation is compliant with Basel II, 2.5 and Basel III (RCAP 2016) Bank for International Settlements, IAIS and IOSCO Principles for financial market (PFMI) are being infrastructures implemented Upon monitoring the implementation of the PFMI, the CPMI gave Russia the highest-possible '4' rating National Settlement Depository is eligible for custody arrangements under Rule 17f-7 of the US Investment Company Act of 1940 LINOW TARY FUND Russia is a party to the Articles of Agreement of the IMF and upholds free movement of capital Insurance sector has started implementing Solvency II European principles 8

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