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О чем говорят тренды № 8 (52) / декабрь 2021 1 No. 8 TALKING TRENDS Economy and markets Research and Forecasting Department Bulletin DECEMBER 2025 2 TALKING

х х х х 276,510 91.8 х х х х 315,567 х х 2023 424,748 71.7 х х х х

credit rating and the minimum credit rating level not lower than “А-(RU)” / “ruА-” / “А-.ru” / “A-|ru|” according to the classification of ACRA (JSC

of the coin ‘3 РУБЛЯ’ (3 RUBLES), the year of issue ‘2025 г.’ (2025), the chemical symbol of the metal according to Mendeleev’s Periodic

г.). Гуров, И. Н., Елицур, Д. А., Зуев, В. Е., Иноземцев, Е. С., Кротова, Ю. И., Мамонтов, Д. С., Ост- ровская, Е. А., Пеникас, Г.

at the Bank of Russia, refer to (1) Deryugina, E. and Ponomarenko, А. (2017). Real-time Determination of Credit F Cycle Phases in Emerging Markets. Bank

of the coin ‘25 РУБЛЕЙ’ (25 RUBLES), the year of issue ‘2025 г.’ (2025), the chemical symbol of the metal according to Mendeleev’s Periodic

х х х х 276,510 91.8 х х х х 315,567 х х 2023 424,748 71.7 х х х х

of the coin ‘3 РУБЛЯ’ (3 RUBLES), the year of issue ‘2025 г.’ (2025), the chemical symbol of the metal according to Mendeleev’s Periodic

tenure as the governor of the bank, as well as the inscriptions ‘Е.И. ЛАМАНСКИЙ’ (EVGENY LAMANSKY) on the right around the circumference and ‘1825