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9% vs +0.4% in May. The increase was mainly driven by ruble loans (+0.7%), with a significant portion of them issued to housing

on new Bank of Russia Instructions No. 220-I and No. 221-I. New rules require all banks with a universal licence to transition to a finalised

of rubles (works, services), to individuals, billions of rubles (including customs duties), billions of rubles billions of rubles billions of rubles billions of rubles 1

of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top 10 credit institutions2 attracting the largest amount of household

Future IPO market rules: outcomes of Bank of Russia report discussion 14 July 2025 News Share VKontakte Telegram Макс The Bank of Russia has outlined

prescribed by the fiscal rule: , = (,1 ) + (1 )( (, ) + , ) (16) , = (,1 ) + (1 )( (, ) + , ) (17) Assets (privatization / nationalization) also follow the need of the policy rule: , = (,1 ) + (1 )( (, ) + , ) (18