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errors in this work are solely those of the authors. All rights reserved. Any reproduction is permitted only with the authors’ consent Cover photo: Shutterstock

The Bank of Russia plans to present the draft ordinance containing new requirements for pension reserves in the near future. Preview photo: Valery Sharifulin / TASS

provided by mining and quarrying and energy companies. Short-term expectations became more reserved in May after improving for three consecutive months. Compared with April, positive

owing to the positive revaluation of securities, increased operating earnings, and the reserves remaining at the previous year’s level. Banks’ capital adequacy ratio recovered

partially offset the decline in the FT’s deposits.4 The required reserves (RRs) edged down in April, in part due to the revaluation of

2024 2025 2026 2027 Foreign assets (excluding reserves) Foreign liabilities Change in reserves Financial account balance (including reserves) * In the balance item, ‘–’ denotes net borrowing

rate Reserve Bank of India Indonesia Interest rates: Immediate rates OECD short-term interest rates People's Republic of China CHIBOR before 2006 Federal Reserve Bank

International Reserves of the Russian Federation*.......................................................................................................................... 16 1.8. International Reserves and Foreign Currency Liquidity — Russia................................................................................................... 17 1.9. International Reserves Adequacy (International Reserves in

errors in this material are solely attributable to the authors. All rights reserved. Reproduction of the materials presented is permitted only with the permission of

errors in this document are the responsibility of the authors. All rights reserved. Any reproduction is prohibited without the authors’ consent. Cover photo: Shutterstock/FOTODOM