In the amplification of external shocks, the Bank of Russia to cope with them and prevent, if necessary, risks to financial stability, says Elvira Nabiullina. As the Central Bank plans to do this, she told the Congress in Kazakhstan
(Photo: Evgeny Reasonable / statements / TASS)
Chairman of the Russian Central Bank Elvira Nabiullina said that with the possible strengthening of external shocks, the Bank of Russia, in its opinion, will be able to locate risks to financial stability. This position it expressed at the Congress of financiers of Kazakhstan, reports “RIA Novosti”. During his speech, the head of the Russian Central Bank also said the regulator plans to deal with possible difficulties.
“We have already used these tools and sure that you will be able in a timely manner to stop the risk of financial stability in a situation the possible increase of external shocks”, — said Nabiullina.
For example, one of the tools to maintain financial stability in Russia, said the head of the Central Bank, was suspending purchases of foreign currency in terms of the budget rules.
The Ministry of Finance for the first time in a month placed the declared volume of Federal loan bonds (OFZ) — two issues to 10 billion rubles. location of the public debt was helped by the information that the decision about new US sanctions against Russia delayed
Photo: Ramil Sitdikov / RIA Novosti
The Ministry of Finance in the course of the auction 14 Nov placed all planned volume of debt — two issues of Federal loan bonds (OFZ) for 5 billion rubles each. The volume of demand of the first issue maturing in November 2022 amounted to 12.2 billion rubles for the issue maturing in December 2021 — 15.5 billion rubles. Weighted average yield of longer bonds (floating coupon) was 7.86% per annum, and the shorter of 8.43%. It went without a prize.
Today for the first time since 22 Oct OFZ average yield came to 8.74%, according to the index of government bonds RGBI. In the last 20 days, they, on the contrary, have grown on negative sanctions rhetoric from the United States from 8.44 to 8.89% (to 13 Nov).
According to Christine Lagarde, the world is changing fast and money needs to change with it. The head of the IMF is confident that Central banks can provide modern digital economy safe and comfortable with digital money
(Photo: Andrew Harrer / Bloomberg)
What is happening in today’s world change is change and the role of money, the demand for cash is declining rapidly, and it is possible that in some 20-30 years to pay them would be virtually impossible, warns the head of the International monetary Fund (IMF) Christine Lagarde. Speaking at the FINTECH conference in Singapore, Lagarde urged Central banks of different countries already, to think about issuing its own digital currency.
“We are the world of information, where data has become the “new gold.” And this means that the money itself must change. We expect that they will be more comfortable, perhaps even, will look not so serious. We expect that they will be integrated with social networking, available online and suitable for payments between individuals, including micropayments. And, of course, we expect that all this will be cheap, safe and protected from criminals and prying eyes,” said Lagarde.
According to her, the Central banks must be ready to fill the gap arising from the withdrawal from the market of cash, because only the state can provide a digital economy is not just convenient, but also guarantees the safety of users and society as a whole money. In particular, according to Lagarde, issued by the Central banks digital currency in the digital world could be “cheap and effective” alternative to payments by large private companies, and to prevent monopolies.
The regulator has forbidden to carry out operations of the MIND Bank, which in terms of asset size is 293 th place in the Russian banking system, and regional joint-stock commercial credit institution “Moscow” (431 -)
Photo: Alexey Zotov / TASS
The Bank of Russia withdrew the license of the credit organization “MIND Bank”, held at the beginning of November by total assets 293 th place in the banking system of the country. In addition, the regulator imposed a ban on operations in terms of regional joint-stock commercial Bank “Moscow”, which, according to statements of 431 took place in Russia.
Explaining his decision regarding the MIND-Bank, the regulator indicated that the credit organization took unfair the decision, namely the conduct of the transaction for the withdrawal of liquid assets to the detriment of the interests of creditors and depositors. Information about these operations, the Central Bank promised to send to law enforcement agencies, since they have signs of violations of the Criminal code.
In addition, the Bank:
The Central Bank will ease restrictions on issuing mortgages with a down payment of 20% for banks, evaluating credit risk based on internal ratings. For a benefit claim savings, it will allow him unlike competitors not to raise rates
Photo: albert Garnelis / TASS
Central Bank develops a normative act, relevant to the particular application of the limits on mortgages with low initial payment (less than 20% of the loan amount) for banks that use the approach to calculation of credit risk based on internal ratings (ISD), told RBC in the press service of the regulator.
Its necessity stems from the fact that in the internal rating models of banks risks inherent in the allowances of the regulator may be partially taken into account, noted in the TSB. The only Russian Bank, which the Central Bank a year ago was allowed to go to PVR, Sberbank.
Indulgence for sensitive borrowers
The Russians were more likely to make orders in Tmall on singles Day. This year on 11 November the number of orders on the site compared to 2017 increased two times
Photo: Grigory Sysoev / RIA Novosti
The number of orders from Russia in the online store Tmall (included with AliExpress at Alibaba Group) during the world day of shopping, or singles Day, compared with last year increased by 102%, told RBC in the press service of the company. At the same time Russian celler in the marketplace number of orders that day increased by 76%, said the press service.
Singles day — the Chinese holiday that is celebrated on 11 November and devoted to people who are not married. On this day, AliExpress and others joined the “celebration” retailers traditionally hold sales similar to black Friday in the United States.
In Russia Tmall, as explained by its representatives, is divided into two businesses: a part of the goods platform buys and sells itself, and the other part “takes” partners-sellers. Thus, the number of orders from the Russian seller in the online store compared to the 11 November 2017 this time increased by 76%. All in all, the number of orders from Tmall, compared with last year’s singles Day has increased by 102%.
The President did not say whether to limit oil production, but said it should be “optimal” for producers and consumers — in the neighborhood of $70 per barrel
Photo: Andrey Rudakov / Bloomberg
It is necessary to ensure the optimal price of oil for consumers and producers, the President of Russia Vladimir Putin. This statement was made by Putin at a press conference in Singapore, reports “Interfax”.
“We need the optimal price for both producers and consumers. Here’s what is now, what was quite recently — about $ 70 per barrel, we are quite satisfied,” he added.
The President did not say that production must be limited, noting that it is sensitive for the Russian budget question.
Closed this year most of their alcoholic enterprises group “the Crystal-Lefortovo” collapses and retail network. From the beginning of 2017 the number of corporate stores decreased eight times
Photo: Vyacheslav Prokofyev / TASS
Alcoholic group “the Crystal-Lefortovo” winding down its retail network alkomarketov “Crystal”, which in 2016 was among the ten largest in Russia. If on 1 January 2017, the network had 300 retail outlets, then in November of 2018, there were only 38, follows from the data “INFOLine-Analytics”.
By the end of 2016 in the rating of FMCG alkomarketov INFOLine Russia TOP network “Crystal” took sixth place and the number of outlets and in terms of revenue (6 billion rubles). By the end of 2017 “Crystal” in the ranking is already the 14th highest number of stores (162) and shared eighth place with the trading house “Ekstrasib” in terms of revenue (4 billion rubles). Now the network, according to “INFOLine-Analytics”, not even the top twenty.
Section with information on retail stores in early fall of 2018 also disappeared from the website “the Crystal-Lefortovo”. A spokesman for the group declined to give the reasons for the closure of outlets and the company’s plans in the retail segment.
“Stroygazmontazh” Arkady Rotenberg, who built the Crimean bridge received major new contracts for the construction of cultural complexes in Sevastopol, Kaliningrad and Vladivostok. The sum of contracts exceeds 80 billion rubles.
(Photo: Mikhail Metzel / TASS)
New project Rothenberg
Fund “National cultural heritage”, established in June 2018, the Mariinsky theatre, the Hermitage, the Tretyakov gallery and the Bolshoi theatre has signed the contract for the construction of Museum and theatre-educational complex in Sevastopol with the “Stroygazmontazh” Arkady Rotenberg. About it told the local newspaper ForPost and confirmed RBC representative of “SGM”.
According to ForPost, a contract was signed for five years — until the second quarter of 2023, and it amounted to 25 billion rubles. It is confirmed RBC a source in the government.
UC Rusal Oleg Deripaska has received the consent of the Dutch Bank ING to change settlement currency from the dollar to the Euro loan of $2 billion or the company would be unable to pay off the Bank in the case of the entry into force of US sanctions
Photo: Ilya Naymushin / Reuters
Transfer in euros
UC Rusal Oleg Deripaska in August has received the consent of ING Bank for changing the currency of payment from dollars to euros in credit raised before 6 April 2018, when sanctions were imposed in the United States against the manufacturer of aluminium. It follows from the report for the third quarter “RUSAL Bratsk”, the largest plant of the company.
ING is the agent of the loan under the contract pre-export financing from 24 may 2017 up to $2 billion, “ING Bank provides consent to the necessary changes (…) in the sales documents, entered into before 6 April 2018, to ensure the ability to make or receive payment in euros,” — said in the report.