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for the central bank to burn through its foreign currency reserves. However, foreign currency reserves are limited, and when the market sees a rapid decline

balance, excluding reserve assets 53 62 45 29 Net incurrence of liabilities -8 4 6 10 Net acquisition of financial assets, excluding reserve assets 45

foreign counterparties’ operational restrictions on Russian banks’ settlements in the world’s reserve currencies made these currencies ‘toxic’ for use in both international and domestic

a ‘fine-tuning’ deposit auction on the last day of the February required reserve (RR) averaging 1 Press release, dated 23 November 2023. Monetary Conditions and

and expansion of the mechanism of the BRICS Pool of Conventional Currency Reserves, macroeconomy, information security, fintech, transition finance and training central banks’ personnel. The

end of 2023, weighted average returns on the pension savings and pension reserves of non-governmental pension funds (NPFs) reached 9.9% and 8.8%, respectively.

International Reserves of the Russian Federation*.......................................................................................................................... 17 1.8. International Reserves and Foreign Currency Liquidity — Russia................................................................................................... 18 1.9. International Reserves Adequacy (International Reserves in

financial indicators, assessment of the MFIs procedure for building reserves (loan loss reserves and impairment reserves), compliance with macroprudential limits in extending consumer loans, compliance