06 July 2019
05 July 2019
The Bank of Russia has Discovered a New Method of ATM Fraud
Last year, the Bank of Russia did not register a surge in transaction reversal fraud, but it did discover a new method of TRF attack from card to card using ATMs, according to a regulator report of the main types of computer attacks in the lending and financial sector in 2018, presented at the International Financial Congress.
05 July 2019
Bank of Russia Assesses Damage of 2018 Cyberattacks Cobalt and Silence to Russian Banks
The damage sustained by Russian banks as a result of the 2018 cyberattacks Cobalt and Silence amounted to no less than RUB 58.4 million, according to an inquiry conducted by FinCERT (a structural unit of the department for information security at the Bank of Russia), which was presented at the International Financial Congress.
05 July 2019
The Bank of Russia Takes FinTech Under its Wing
Digital technologies have already become the primary driver of financial market growth. However, they are also a source of risks for its traditional participants, forcing banks, IFOs and insurers to compete with new FinTech companies. The Governor of the Bank of Russia Elvira Nabiullina, speaking at the International Financial Congress, made it clear that she is ready to support such competition, taking under the Bank’s wing any organizations offering financial services, and even allow FinTech to its loans.
05 July 2019
How Elvira Nabiullina sees Bank of Russia’s contribution toward increasing GDP
05 July 2019
The Bank of Russia to Ban Loan Pre-Sold Services
The Bank of Russia considers imposing legislative limitations on pre-sold services that usually go along with loans, said Mikhail Mamuta, Head of Service for Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia at the International Financial Congress.
04 July 2019
Muhammad Yunus to RBC: “Working for others is unnatural”
The winner of the Nobel Peace Prize explained why capitalism leads to poverty even in the US, told why he stopped giving loans to men and how he managed to turn homeless beggars into entrepreneurs.
04 July 2019
The Bank of Russia sees risks in the growing household debt of part of the Russian population, and not in new borrowers, said Bank of Russia Governor Elvira Nabiullina.
04 July 2019
Bank of Russia to Tighten Credit Regulations for Mergers and Acquisitions
The Governor of the Bank of Russia, Elvira Nabuillina, has stated that the Bank of Russia will tighten credit regulations for mergers and acquisitions (M&A) by the end of the year.
04 July 2019
The Bank of Russia will Consider Reducing the Key Rate in July
At a board meeting in July, the Bank of Russia will consider reducing the key rate, the Governor Elvira Nabiullina told reporters at the International Financial Congress.
04 July 2019
The Bank of Russia to Limit Unsecured Long-Term Consumer Loans
The regulator believes that these types of loan carry risks: banks are using them to try to bypass growth-curbing measures on consumer loans
04 July 2019
Nabiullina on Possibility of Reducing Mortgage Rates
The Governor of the Bank of Russia, Elvira Nabiullina, has spoken about the possibility of reducing mortgage rates in an address to journalists at the International Financial Congress 2019.
04 July 2019
Ministry of Finance in Favour of Criminal Liability for Illegal Lenders
The Ministry of Finance of Russia considers it necessary to toughen the penalties for illegal lenders, including subjecting them to criminal liability, as the primary way of limiting consumer lending risks. This was announced to journalists by Deputy Finance Minister Alexey Moiseev on the sidelines of the International Financial Congress.
04 July 2019
Nabiullina Announced that the Russian Economy Structure Peaked Out
The Russian economy, which grew by 0.5% only in the first quarter of 2019, hit its structural ceiling. Changes in monetary policy are a dangerous path to growth, says the Governor of the Central Bank of Russia Elvira Nabiullina.
04 July 2019
Elvira Nabiullina Proposes creation of Self-Regulated Organizations for Banks
Elvira Nabiullina, Governor of the Bank of Russia, has stated that she is inviting bankers to discuss the creation of self-regulated organizations (SROs), Interfax reports.
04 July 2019
Governor of the Bank of Russia Opened the 28th International Financial Congress
The IFC-2019 launched in St. Petersburg. The key topic of the Congress is ‘Financial Markets: Increasing Complexity, Maintaining Stability’.
03 July 2019
Macroprudential Policy Effectiveness Discussed at Bank of Russia Conference
Bank of Russia’s international research conference ‘Macroprudential Policy Effectiveness: Theory and Practice’ was held on 3 July as part of the International Financial Congress in St. Petersburg.
18 June 2019
International Financial Congress Business Programme
The business programme with speakers and moderators has been posted on the International Financial Congress website. The 28th International Financial Congress ‘Financial Markets: Increasing Complexity, Maintaining Stability’ will be held 3–5 July 2019 in St. Petersburg. The Congress is organized by the Bank of Russia and the Roscongress Foundation.
23 April 2019
An event programme has been published on the official website of the International Financial Congress.
06 March 2019
Topic for International Financial Congress 2019 Determined
The Organizing Committee of the International Financial Congress announced its main topic – Financial Markets: Increasing Complexity, Maintaining Stability.
27 December 2018
The Organizing Committee of the International Financial Congress approved the dates for the event in 2019.
08 June 2018
27th International Financial Congress. Key Takeaways
The 27th International Financial Congress took place in St. Petersburg. The topic of the Congress is The Financial System: Stability for Growth.
08 June 2018
Bank of Russia releases mobile application for banknotes
The ‘Bank of Russia Banknotes’ mobile application helps the public to familiarise themselves with banknotes in circulation, study their design and visual security features, and also obtain information needed to conduct an independent check of their authenticity without special equipment.
08 June 2018
On signing the Agreement between the Bank of Russia and the National Bank of Kazakhstan on Cooperation and Information Exchange in the field of financial market supervision.
08 June 2018
FAS Proposes to Ban State-owned Banks from Acquiring Financial Institutions
The Federal Antimonopoly Service (FAS) proposes to ban state-owned banks from acquiring credit institutions in order to prevent their share from increasing.
08 June 2018
Central Bank of the Russian Federation Sees No Pressing Issues on the NPF Market, Says Nabiullina
Saint Petersburg. 8 June. INTERFAX. The Central Bank of the Russian Federation does not see any pressing issues on the Non-State Pension Funds (NPF) market that would require rehabilitative measures, the Governor of the Bank of Russia Elvira Nabiullina told journalists on the sidelines of the International Financial Congress.
08 June 2018
Central Bank of the Russian Federation Continues Regulatory Tightening on Foreign Currency Loans
The Bank of Russia will continue the policy of tightening regulation on foreign currency loans. These measures will have a long-term beneficial effect, said the Head of the Regulator Elvira Nabiullina.
08 June 2018
Central Bank of the Russian Federation Is Concerned About Some Banks Understating THE Deposit Rates
The Central Bank of the Russian Federation is concerned with some banks understating the deposit rates; the regulator is to discuss with the market the option of introducing a minimum rate, said the Head of the Central Bank Elvira Nabiullina.
08 June 2018
Bank of Russia does not See any Drastic Change in the Interest towards Russian Assets in the World
“We do not see such drastic change in the interest of global investors towards Russian assets. Basically, Russian assets remain attractive,” said Elvira Nabiullina, Governor of the Bank of Russia, at a press conference at the International Financial Congress.
08 June 2018
Nabiullina: Bank of Russia does not Pursue the Policy to Increase Government Share in Banking Sector
07 June 2018
The prototype of the unified platform for sales of financial services was presented by the Bank of Russia at the International Financial Congress.
07 June 2018
Head of VTB Bank Expects Positive Change in Lending
This year we can expect growth in lending, which will be driven by consumer loans, said VTB President Andrey Kostin in his speech at the International Financial Congress.
07 June 2018
Competition development measures proposed by the Bank of Russia and the FAS
In collaboration with the Federal Antimonopoly Service, the Bank of Russia has prepared an analytical paper which proposes a set of competition development measures for the financial market.
07 June 2018
Deposit Insurance Agency of Russia (DIA) Suggests Doubling Deposit Insurance to 2.8 Million Roubles
07 June 2018
If necessary, the Central Bank of the Russian Federation can slow down the key interest rate decrease, the Bank does not foresee the risks of its increase, said the Governor of the Central Bank of Russia Elvira Nabiullina at the International Financial Congress on Thursday.
07 June 2018
The 2008-2017 Decade in the Russian Banking Sector: Trends and Factors
At the International Financial Congress 2018 the Adviser to the Governor of the Bank of Russia Alexey Simanovskiy presented the analytical report 'Outcomes of the Post Crisis Decade in Russia's Banking Sector: the Main Trends and Challenges' prepared by the Bank of Russia expert team.
07 June 2018
Bank of Russia Governor Elvira Nabiullina speaks at 27th International Financial Congress
06 June 2018
The Starting Day of the International Financial Congress Has Finished
The programme of the International Financial Congress 2018 starting day was very busy.
06 June 2018
Bank of Russia Will Fight Illicit Sales of Financial Products
The Bank of Russia intends to ensure that illicit sale of financial products (misselling) becomes a marginal phenomenon for the market, said Sergey Shvetsov, First Deputy Governor of the Bank of Russia, during the International Financial Congress.
06 June 2018
We are pleased to present the XBRL: First Results of Statements Collection. Further Steps session, which will take place on 8 June at the Presentation Area of the International Financial Congress.
06 June 2018
Central Bank to Rate Quality of Russian Insurers’ Services
The Bank of Russia intends to rank insurance companies based on the quality of their services, said Sergey Shvetsov, First Deputy Governor of the Central Bank of Russia, at the 16th International Conference on Insurance.
06 June 2018
Standards for selling non-bank products and services to be created by credit institutions
Credit associations and financial market self-regulatory organisations (SROs) have signed the memorandum of cooperation on countering the unscrupulous sales of financial products and services of non-bank financial institutions in banks’ offices.
06 June 2018
Mobile App Available for International Financial Congress Participants
Participants and guests of the International Financial Congress, which opened in St. Petersburg on 6 June, can use the IFC 2018 mobile application to obtain current information about the services of the event.
06 June 2018
27th International Financial Congress Opens in St. Petersburg
The key topic of the International Financial Congress (IFC) this year is The Financial System: Stability for Growth.
05 June 2018
Squash and Pool Tournaments Included in IFC 2018 Programme
For the first time sporting events are a part of the International Financial Congress programme. The Congress will take place in St. Petersburg on 6–8 June 2018. On 6 June IFC participants will take part in squash and pool tournaments.
05 June 2018
Final Preparations for International Financial Congress
The 27th International Financial Congress opens on 6 June 2018 in St. Petersburg.
04 June 2018
On 7 June at 11:00 Manege Central Exhibition Hall Presentation Area (second floor) will host the following presentation: RuData: a New System to Assess Value, Liquidity and Trading Activity of Russian Bonds based on Interfax, NSD Price Centre and Thomson Reuters Data. This presentation is part of the International Financial Congress.
31 May 2018
IFC Venue to Get Presentation Area
The organizers of the 27th International Financial Congress will provide participants with a new special feature — a Presentation Area to demonstrate financial products and services, as well as to hold business meetings and events.
24 May 2018
Programme for 27th International Banking Congress Presentation Area Released
The official website of the 27th International Banking Congress published the official programme for their presentation area, which is an additional venue for banking experts’ presentations, as well as presentations on a various matters of the industry.
04 April 2018
Architecture of the IFC-2018 business programme published
Business programme architecture for the 27th International Financial Congress has been published on the IFC official website.
10 January 2018
The Key Subject of the 27th International Financial Congress is Determined
The Organizing Committee of the International Financial Congress has approved the event’s key subject. The theme for the 2018 will be ‘The Financial System: Stability for Growth’.
08 November 2017
Dates for International Financial Congress 2018 confirmed
Following a decision by the Central Bank of the Russian Federation (Bank of Russia), the 27th International Financial Congress (IFC-2018) will take place from June 6 to 8, 2018 in St. Petersburg.
17 July 2017
Summary of the 26th International Financial Congress
The 26th International Financial Congress has ended in St. Petersburg. The main theme of the IFC – ‘Finances for Development’ – established the main agenda item – searching for a balance between the goals of developing and ensuring financial stability and the importance of the role of central banks in creating conditions for sustainable growth. This theme was reflected in the new signature style of the event.
14 July 2017
Sberbank and Pension Fund sign a cybersecurity cooperation agreement
Sberbank and the Pension Fund of Russia concluded an agreement on cybersecurity cooperation at the 26th International Financial Congress. Sberbank Vice-Chairman of the Management Board Stanislav Kuznetsov and PFR Vice-Chairman of the Management Board Alexei Ivanov signed the agreement.
14 July 2017
Russian minister of economic development says prepare for rouble exchange rate fluctuations
There is nothing extreme in the rouble’s fluctuations. People should be prepared for such fluctuations with a floating exchange rate, Russian Minister of Economic Development Maxim Oreshkin said at the International Financial Congress in St. Petersburg.
14 July 2017
Ministry of Economic Development Maxim Oreshkin: New economic growth cycle under way in Russia
Autumn 2017 may prove to be a positive time for the development of the Russian economy as a new cycle of economic growth has begun in the country, Minister of Economic Development Maxim Oreshkin said.
14 July 2017
Maxim Oreshkin: Companies will switch to rouble-denominated borrowing
Russian Minister of Economic Development Maxim Oreshkin said at the International Financial Congress in St. Petersburg that he believes companies will switch to rouble-denominated borrowing due to the rather rapid narrowing of the spread between rouble- and foreign currency-denominated loans.
14 July 2017
Bank of Russia and the Сouncil for professional qualifications sign cooperation agreement
The Bank of Russia and the Council for Professional Qualifications of the Financial Market signed a cooperation agreement on July 14, 2017 at the International Financial Congress in St. Petersburg.
13 July 2017
Agreement signed on establishment of Network Financial Institute
An agreement on the establishing and operation of the Network Financial Institute within the Eurasian Network University was signed on July 13 at the International Financial Congress.
13 July 2017
Pension Fund and Bank of Russia sign agreement to combat hacking in the credit and financial sector
Deputy Chairman of the Management Board of the Pension Fund of Russia Alexei Ivanov and Head of the Russian Central Bank’s Main Security and Information Protection Office have signed an agreement on cooperation to combat hacking.
13 July 2017
Central Bank contemplated inventive-based regulation
The Central Bank’s regulation and supervision will be more focused on matters concerning development and stimulation since much of the work required for the recovery of the banking system has already been carried out, Central Bank Governor Elvira Nabiullina said at the International Financial Congress.
13 July 2017
Nabiullina says new bank rehabilitation mechanism is ready
The Bank of Russia is ready to start using a new mechanism for the rehabilitation of the banking sector from both a legal and an organizational standpoint, Central Bank Governor Elvira Nabiullina said at the International Financial Congress in St. Petersburg, TASS reports.
13 July 2017
Central Bank to introduce ‘payment to return’ ratio in consumer lending
The Bank of Russia will prepare “specific proposals” in the near future to introduce a ‘payment to return’ ratio in consumer lending, Central Bank Governor Elvira Nabiullina said at the International Financial Congress.
13 July 2017
Central Bank modifies approach to combatting risks in banking sector
The head of the Central Bank said Russia has met its goal of eliminating chronically unstable banks and criminal bankers for the most part.
13 July 2017
Nabiullina says banking sector doubled profits
Russian Central Bank Governor Elvira Nabiullina said at the International Financial Congress that the Russian banking sector has doubled profits over the first six months of 2017.
13 July 2017
Central Bank predicts slow economic recovery and tightening of policy by regulators
Slow economic recovery as well as the tightening of policy by central banks will be the main trends in the global economy in the coming years, Russian Central Bank Governor Elvira Nabiullina said at the 26th International Financial Congress in St. Petersburg. She also predicts growth in interest rates and an expansion in balance sheets, TASS reports.
13 July 2017
Central Bank choosing method to collect information about borrowers’ debts
The Bank of Russia is planning to introduce new requirements for credit reference agencies (CRA), Central Bank Governor Elvira Nabiullina announced. This is one of the steps that should help to develop consumer lending, she said.
13 July 2017
Nabiullina warns about banking system turning into huge pawnshop
The attachment of Russian financial institutions to secured lending could turn the banking system into one big pawnshop, Russian Central Bank Governor Elvira Nabiullina said on Thursday, July 13, during a speech at the 26th International Financial Congress, Rambler News Service reports.
13 July 2017
Nabiullina forecasts global economic trends in coming years
Central Bank Governor Elvira Nabiullina believes that over the next five years the global economy will see a slow recovery, while central banks will tighten their policies. The Russian economy has entered a growth phase, she said.
13 July 2017
Central Bank plans to ensure Mir cards are accepted in EurAsEC space
One of the Central Bank’s objectives in the coming years is to ensure Mir cards are accepted on the Eurasian Economic Community (EurAsEC) space, Central Bank Governor Elvira Nabiullina said at the International Financial Congress in St. Petersburg.
13 July 2017
Central Bank planning to introduce mechanism to rehabilitate insurers soon
The Bank of Russia is planning to introduce a mechanism for the rehabilitation of insurance companies in the near future, Russian Central Bank Governor Elvira Nabiullina said.
13 July 2017
Central Bank advises banks to alter business model for lending to owners
Russian banks that primarily lend to the businesses of their owners should think about changing their business models, Russian Central Bank Governor Elvira Nabiullina said at the 26th International Financial Congress.
13 July 2017
Nabiullina: Russian economy entering new growth cycle
The Russian economy is at the start of a new growth cycle, Russian Central Bank Governor Elvira Nabiullina said at the 26th International Financial Congress in St. Petersburg.
13 July 2017
Governor of the Bank of Russia Elvira Nabiullina spoke at the 26th International Financial Congress
In this speech, I would like to address the Bank of Russia’s strategic goals and plans for the next five years. At this time, when our economy is embarking on a new cycle, it would be appropriate to focus on just such a planning horizon and determine the overall strategy for financial market development.
13 July 2017
Putin says advanced technologies need to be introduced in financial sector
Russian President Vladimir Putin said in his greeting to the participants and guests of the 26th International Financial Congress ‘Finance for Development’ that advanced technologies need to be introduced to enhance the competitiveness of the Russian financial sector and ensure its services are available to the public and business.
13 July 2017
26th International Financial Congress kicks off in St. Petersburg
‘Finance for Development’ is the main theme of the 26th International Financial Congress (IFC 2017), which opened on July 13 in St. Petersburg. More than 1,200 participants have come together to discuss the financial system’s contribution to the country’s economic development and measures that can be taken in this area.
12 July 2017
Zero Day events conclude at International Financial Congress
The programme of the day preceding the main programme of the International Financial Congress was very intense.
10 July 2017
Central Bank First Deputy Governor Ksenia Yudaeva discusses the IFC programme with journalists
Senior Deputy Governor of the Bank of Russia Ksenia Yudaeva met with journalists at the Bank’s press centre on July 10 to talk about the upcoming International Financial Congress, its keynote and programme.
07 July 2017
Innotribe Startup Challenge among fintech startups to be held at IFC
SWIFT, in a partnership with the Bank of Russia, will hold the Innotribe Startup Challenge among fintech startups for the first time in Russia. The event will take place as part of the programme of the International Financial Congress.
06 July 2017
Bank of Russia to present model for Russian financial sector at IFC
The Centre for Macroeconomic Analysis and Short-Term Forecasting (CMASF) has conducted a comparative analysis of the model of the Russian financial sector and models of financial sectors of other countries for the Bank of Russia as part of the macroeconomic research cycle that will be presented at the IFC.
05 July 2017
Bank of Russia to present 7 economic and financial studies at International Financial Congress
The Bank of Russia will present seven economic and financial studies devoted to different aspects of the modern Russian financial system at the International Financial Congress on July 12–14.
22 June 2017
Updated Congress Logo Placed on the IFC Website
The International Financial Congress has updated its corporate style. From 2017, the Congress will use a new brand identity based on the image of St Petersburg’s drawbridges. A bridge is a metaphor for dialogue, a search for common points between businesses and regulatory authorities, as well as between various sectors of the financial market.
22 June 2017
International Financial Congress (IFC–2017) programme published
The International Financial Congress’s official website has released an extensive business programme with a list of session speakers and moderators.
02 August 2016
Dates set for 26th International Financial Congress 2017
The 26th International Financial Congress will take place from July 12–14, 2017 in St. Petersburg in accordance with the decision of the Central Bank of the Russian Federation.
01 July 2016
Central Bank to Review Banks’ Credit Portfolios for Technical Loans on Quarterly Basis
The Central Bank of Russia plans to review 100% of banks’ credit portfolios for technical loans on a quarterly basis. It was announced by Anna Orlenko, the Director of the Banking Supervision Department, at the International Financial Congress in Saint-Petersburg.
Ms. Orlenko commented: “We’re starting the review practice. Although it requires a lot of effort, we’ll reach the objectives. And I’m sure we’ll be able to review 100% of loans every quarter”.01 July 2016
Nouriel Roubini on Global and Russian Economy
Presenting key points of Nouriel Roubini’s speech at the International Financial Congress in Saint-Petersburg .Mr. Roubini the Head of Roubini Macro Associates.
01 July 2016
Russia’s Bond Market Has Great Potential
Elvira Nabiullina, the Governor of the Bank of Russia, believes Russia’s bond market has a great potential.
Ms. Nabiullina stated at the International Financial Congress: “The bond market is actively developing, while its potential is bigger than its current capacity”.
01 July 2016
Elvira Nabiullina Describes Russia’s Financial Sector as Uneven
Saint-Petersburg, July 1 — Elvira Nabiullina, the Governor of the Bank of Russia, announced at the International Financial Congress that Russia’s financial sector is unevenly developed, as most of the assets are controlled by banks.
01 July 2016
Ministry of Finance Ready to Equal Taxation for Bonds and Deposits
Russia’s Minister of Finance Anton Siluanov announced that the Ministry is ready to equal taxation for bank deposits and corporate bonds. The latter will no longer be subject to income tax.
At the International Financial Congress Mr. Siluanov commented: “We’ll reduce the rates [of the income tax] for those facilities that invest in corporate bonds. The new tax rates will be comparable to those for the deposits”. The Minister reminded that the Government had already made the decision.01 July 2016
VTB Expects to Attract 20 Million Customers Within 5—6 Years
Andrey Kostin, the Chairman and the President of VTB, announced that the bank is planning to expand its chain in the regions and become just as close to the people as convenience stores.
Mr. Kostin said at the International Financial Congress: “We are going to use all cutting edge technologies, including phone and IT banking, but we still believe that banks need to be just as available as convenience stores. It’s a great competitive strength, as it creates a comfortable environment, and therefore a higher demand for banking services”.