Russian Central Bank cracks down on foreign forex brokers

Crypto miner Coinhive set to close its doors citing economic reasons

January 03, 2019 BY Valentina Kirilova

Russian Central Bank cracks down on foreign forex brokers – shuts 5 firms

Open competition among forex brokers within the Russian Federation no longer exists. In a surprise move, the Russian Central Bank (CBR) has revoked the operating licenses of five foreign-based forex brokers due to “the repeated violations of the requirements of the Russian legislation on securities within one year.” New legislation passed a few years back…

January 12, 2017 BY Valentina Kirilova

Central Bank of Russia confirms Moscow Exchange USDRUB FX rate fix

Following its monitoring of the MOEX USD/RUB FX Fixing, the Central Bank of Russia (CBR) has confirmed that the benchmark accurately reflects the market and meets all requirements for transparency of calculation methodology. The inspection took place in Q3 2016, and will be repeated on a regular basis. In July 2016, the CBR officially recognised…

November 25, 2016 BY Valentina Kirilova

Moscow Exchange updates Index Calculation Methodology

The Central Bank of Russia (CBR) has registered an updated version of the Methodology of the Moscow Exchange Indices Calculation adopted by the Executive Board of Moscow Exchange on October 7, 2016. This methodology has been adopted in respect of the planned corporate restructuring whereby CJSC MICEX Stock Exchange will be consolidated into Moscow Exchange.…

July 14, 2016 BY Valentina Kirilova

Central Bank of Russia has officially acknowledged quality of MOEx USD/RUB FX Fixing

The Central Bank of Russia (CBR) has officially recognised Moscow Exchange's USD/RUB FX Fixing and Moscow Exchange's operational performance as fixing administrator as being of satisfactory quality. The CBR also the fixing`s compliance with the Bank`s requirements, which are based on the International Organization of Securities Commissions (IOSCO) principles for financial benchmarks. In March 2016,…

March 28, 2016 BY Maria Nikolova

Bank of Russia suspends 12-month FX repo auctions

Bank of Russia, the “Megaregulator” of Russia's financial markets, today announced its decision to to suspend 12-month FX repo auctions. The decision is effective April 1, 2016. The watchdog explained that the move reflects weak demand for these facilities from Russian credit institutions and the shift of this demand to 28-day FX repos. The Bank…

November 13, 2015 BY Maria Nikolova

Russian c-bank to consider cutting key rates during one of next three meetings

The Bank of Russia Board of Directors will consider a cut to key interest rates during one of its next three meetings, Elvira Nabiullina, Governor of Russia's top financial regulator, has told media representatives. On October 30, 2015, the Bank of Russia kept the key interest rates unchanged at 11.0% per annum, referring once again to…

August 14, 2015 BY Maria Nikolova

Bank of Russia works on project to protect clients of Forex brokers

The project, entitled “Creating a system for the regulation and control of the activity of Forex dealers”, should be completed by April 2016.

June 15, 2015 BY Maria Nikolova

Bank of Russia axes key interest rates to 11.50%

The regulator blamed its decision on risks of Russia's economy cooling and on weakening inflation risks.

June 08, 2015 BY Maria Nikolova

Russia sets no limits on compensations to clients of bankrupt FX brokers

There will be no upper limit on compensation that clients of an insolvent Forex broker in Russia may get, according to a normative act drafted by the Bank of Russia.

March 13, 2015 BY Maria Nikolova

Bank of Russia reduces key rate from 15% to 14%

Bank of Russia, the country's financial megaregulator, has just announced the key interest rate will be reduced to 14% from March 16, 2015. The move represents a cut from the level of 15%, which was introduced on February 2, 2015. That, in itself, represented a cut from the level of 17%, introduced on December 16,…

Tag: CBR