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quality of assets underlying fiat-backed stablecoins: reserves should consist of assets with high credit quality, including central bank reserves, government securities, bank deposits, etc. Additionally,

securities Loans and microloans Shares and other equity interest Insurance and pension reserves Accounts receivable Source: Bank of Russia. Chart В-1-8. Annual growth of household

of bonds that have not been substituted in NPFs’ portfolio of pension reserves. Support and restrictive measures to be extended1 The right of professional securities

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of Inflation Persistent? Evidence from a Novel Decomposition of PCE Inflation. Federal Reserve Bank of Boston Current Policy Perspectives. November 4, 2022. 9 TALKING TRENDS

in October). The spread expanded at the end of the October required reserves (RRs) averaging period1 (AP). Banks had already completed the averaging of RRs

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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

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