Qiwi Bank’s Licence Revoked by Bank of Russia

February 21, 2024 BY Simon Mugo

Qiwi Bank’s Licence Revoked by Bank of Russia – Shares Collapse

The central bank stated, "Despite ongoing supervisory efforts by the Bank of Russia, Qiwi Bank failed to implement adequate risk mitigation measures and persisted in engaging in high-risk activities." Qiwi, a payment service provider listed on Nasdaq, acknowledged the license revocation, noting that temporary management had been appointed to the bank. The company communicated via…

March 14, 2022 BY Steffy Bogdanova

Russian Central Bank to change the process of calculating USD/RUB rate

The bank added: Moreover, the official EUR/RUB exchange rate will be set in the same manner as the official exchange rates of other foreign currencies against the ruble. This will simplify the procedure for setting and publishing official exchange rates. Sanctions on Russia Russia’s central bank is trying to defend the country’s economy from the…

March 02, 2022 BY Steffy Bogdanova

Sberbank exits Europe, Moscow Exchange closed for a third day

The European Central Bank (ECB) had already ordered Sberbank's European unit to close. Sberbank has branches in many European counties including Austria, Croatia, Germany and Hungary. The bank’s Switzerland arm is not affected by the exit. Moscow Exchange The Moscow Exchange will not resume operations on Wednesday. The Russian markets operate pushed back the opening…

February 28, 2022 BY Steffy Bogdanova

Russia's central bank more than doubled its interest rate to 20%

Forex Market The Russian finance ministry and Russia’s central bank have ordered domestic exporting companies to sell 80% of their forex reserves in order to help the rouble which plunged 30% against the dollar earlier today. The western governments imposed increasingly stricter sanctions on Russia following President Putin’s decision to invade Ukraine. As part of…

February 28, 2022 BY Steffy Bogdanova

Central Bank of Russia suspends execution on foreign bids for Russian securities

MOEX said: On the FX Market, during the trading session, the boundaries of the price corridor will not automatically change. At the opening of trading, the National Clearing Center (NCC) set the following limits of the price corridor. For the USDRUB_TOM currency pair: the lower limit is 76.145, the upper limit is 90.00. For the…

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…

February 29, 2016 BY Maria Nikolova

Bank of Russia softens stance on crypto currency tech

It is a rare occurrence that the Bank of Russia publishes a press release on Sunday. But yesterday it did and the press release concerned financial market innovation and blockchain, in particular. The “Megaregulator” press release was published just a couple of days after it became clear that a bill penalizing Bitcoin use is drafted by…

Tag: Central Bank of Russia