April issue of Bank of Russia Money and Credit released
The fourth 2016 issue features:
Draft Code of Administrative Offences of the Russian Federation: Any News for the Bank of Russia? Alexey Guznov, Director of the Bank of Russia Legal Department, in co-authorship with his deputy Andrey Medvedev analyse in detail the principal provisions of the draft Federal Law No.
FX Interventions: Channels, Sterilisation and Secrecy. The article by Sergey Moiseyev, Director of the Bank of Russia Financial Stability Department, continues research into FX interventions started in the previous issue of Money and Credit. The author considers how the economic theory in this area is put into practice of central banks’ operation. The article focuses on changes in Bank of Russia approaches to holding such operations.
On E-money Essence and Regulation: Foreign Experience. The material, one of the authors is Yevgeny Loginov, consultant of the Bank of Russia Cash Circulation Department, raises a question of how citizens, central banks and governments will feel like in the universal e-money world. The views expressed in the article are solely those of the authors and do not necessarily reflect the official position of the Bank of Russia.
Exogenous Refinancing Instruments for Supporting and Reducing the Costs of the Bank Loan. The article, one of the authors is Vsevolod Cherkasov, head of sector of the Bank of Russia General Economic Department, analyses Bank of Russia specialised refinancing facilities in the context of measures undertaken by the central banks of the leading countries to increase bank loan accessibility for all categories of borrowers.
‘Transatlantic Cruise’ of the Soviet Gold (1928) and Its ‘Legal Consequences’. Mikhail Nikolayev, chief expert of the Bank of Russia International Cooperation and Public Communications Department, reveals to the readers little-known, truly detective details of the USSR State Bank gold operation in 1928. Gold bullions sent by the Soviet government to the US as an import payment became subject to claims from the Bank of France. The precious cargo crossed the Atlantic many times in search of a ‘safe harbour’...
On the Specifics of Using a Special Purpose Mechanism of Additional Lending Against Collateral in the PRC. Alexander Larionov, leading expert of the Bank of Russia General Economic Department, reveals in his article the principal features of the mechanism of additional lending against collateral in China. There is practically no information about this mechanism in Russian business literature.
