Key Targets for Measuring Effectiveness in Implementing the Guidelines for the Development of the Russian Financial Market

To make a thorough measurement of the implementation effectiveness of the measures set out by the Guidelines for the Development of the Russian Financial Market in 2016–2018, the Bank of Russia proposes a set of key targets by area of development and respective calculation methods. The concrete current figures will be updated annually.

Key target name Current value 2017 2018
Financial knowledge 1,97 2,1 2,5
Households’ satisfaction with the regulator’s responses to their complaints addressed to the Bank of Russia online reception 33% 42% 55%
Price affordability of financial services for business 4,1 4,5 5
Price affordability of financial services for adults 0,82 0,78 0,7
Share of products and services accessible to retail customers via online sales channels 18% 40% 85%
Protecting minority investors 5,67 6,0 6,7
Share of market trades in Russian corporate bonds placed in the Russian Federation in the total corporate borrowings by Russian residents 15% 17% 20%
Introduction of the proportional and differentiated regulation of financial market participants fragmented elements - well-developed system of proportional regulation
Number of qualification certificate types issued to financial market experts 7 7 10
Level of expenses on paper-based workflow in the financial market 100 90 80
Compliance with the requirements to implement international principles by Russian legislation information disclosure on the implementation progress
Rank assigned during the update of the assessment of compliance with the Principles for Financial Market Infrastructures by the Russian jurisdiction regarding the regulation of:
central counterparty 2 4 4
central depository 2 4 4
repository 1 4 4
payment systems 4 4 4
Classes of standardised OTC derivatives subject to mandatory CCP clearing 0 1 2
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