Finance for Development

July 12–14 2017, Saint - Petersburg

News

    17.07.2017 г.

    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.

    14.07.2017 г.

    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.

    14.07.2017 г.

    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.

    14.07.2017 г.

    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.

    14.07.2017 г.

    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.

    14.07.2017 г.

    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.

    13.07.2017 г.

    Maxim Oreshkin: Russia has passed the credit cycle low

    Russian Minister for Economic Development Maxim Oreshkin took part in the International Financial Congress held in St. Petersburg.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    13.07.2017 г.

    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.

    12.07.2017 г.

    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.

    10.07.2017 г.

    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.

    07.07.2017 г.

    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.

    06.07.2017 г.

    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.

    05.07.2017 г.

    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.

    22.06.2017 г.

    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.

    22.06.2017 г.

    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.

    02.08.2016 г.

    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.

    01.07.2016 г.

    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”.

    01.07.2016 г.

    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.

    01.07.2016 г.

    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”. 

    01.07.2016 г.

    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.

    01.07.2016 г.

    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.

    01.07.2016 г.

    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”.

    01.07.2016 г.

    Dmitry Tulin: Bank of Russia May Do Trial Bond Issuance in November

    Dmitry Tulin, the First Deputy Governor of the Bank of Russia, announced that the Bank of Russia may do a trial issuance in November.  

    01.07.2016 г.

    Bank of Russia Adjusts Business Plan for National Reinsurance Company

    Vladimir Chistyukhin, the Deputy Governor of the Bank of Russia, announced at the International Financial Congress that the Bank of Russia will make adjustments to the original business plan for the National Reinsurance Company (NRC).

    “The business plan that was initially presented needs to be amended,” — he commented.

    30.06.2016 г.

    Yury Isaev: new Central Bank credit of RUB 180 billion will suffice for the Deposit Insurance Agency until the end of 2016

    New Central Bank credit of RUB 180 billion will suffice for the DepositInsuranceAgency (DIA)until the end ofthe year, TASS was told on the sidelines of the International Financial Congress by Yury Isaev, head of the Agency.

    “Should we need any more money, we will ask the Central Bank for it. Sofar, webelievewehaveenoughfinancingforthe estimated horizon. Asforme, I believe that, with such a (credit) limit, we should be able to exist until the end of the year,”he said.

    30.06.2016 г.

    Stephen King names currency wars the key risk for the global economy

    One of the key problems for the global economy today is currency wars. This was what Stephen King, Global Chief Economist of the UK financial corporation HSBC, stated on Thursday, June 30, at the International Financial Congress in St. Petersburg, according to a Lenta.ru correspondent.

    This was his answer to a question from Bank of Russia Governor Elvira Nabiullina, asking him to list the main global risks. “I have a very long list of things that concern me,” Mr. King said.

    30.06.2016 г.

    St. Petersburg and the Central Bank of Russia have signed a Memorandum on creating a Unified St. Petersburg Resident Card

    The XXV International Financial Congress has opened in St. Petersburg in the Presidential Library.

    This year, the Congress has a different format: the discussions will cover not just banking but the entire financial sector.

    30.06.2016 г.

    Russia’s Central Bank to take special approach to regional banks

    The Bank of Russia intends to introduce a special approach to regional banks and discuss the issue of simplifying regulations for such banks with the banking community, announced Central Bank Governor Elvira Nabiullina.

    30.06.2016 г.

    Bank of Russia to increase equity requirement to be met by federal banks to RUB 1 billion

    Nabiullina says bank equity requirements currently applied by Russia’s Eurasian Economic Community partners are already higher

    The Bank of Russia is planning to increase the future requirement for the minimum amount of funds (equity) to be held by federal banks to RUB 1 billion, Elvira Nabiullina, Governor of the Bank of Russia, told the International Financial Congress on Thursday.

    30.06.2016 г.

    The Central Bank intends to set up a fund for financial rehabilitation of banks

    The Central Bank intends to set up a fund for consolidation of the capital of banks undergoing financial rehabilitation by the Bank of Russia, after which they will be sold on the market, according to Central Bank Governor Elvira Nabiullina, speaking at the International Financial Congress. The Fund will be managed by a special management company.

    30.06.2016 г.

    The Central Bank considers low inflation to be a condition for investment growth of the economy

    The Central Bank’s aim with respect to reducing inflation is to achieve investment growth of the GDP, according to Governor of the Central Bank Elvira Nabiullina.

    “Low inflation is essentially a condition for investment type of economic growth,” Ms.Nabiullinasaid during her speech at the International Financial Congress.

    30.06.2016 г.

    The Central Bank believes this year will see a bill on bank financial rehabilitation through bail-in

    AccordingtoDeputyGovernorMikhailSukhov, the increase in payments into the Mandatory Reserve Fund will not affect profitability of the banking sector

    ST. PETERSBURG, June, 30. /TASS/. TheCentralBankbelievesthisyearwillseea bill on bank financial rehabilitation through bail-in, Bank of Russia Deputy Governor Mikhail Sukhov told journalists on the sidelines of the International Financial Congress.

    30.06.2016 г.

    Governor of the Bank of Russia: “No rapid return to high oil prices is foreseen”

    No rapid return to high oil prices is foreseen, according Elvira Nabiullina, Governor of the Bank of Russia, speaking at the International Financial Congress in St. Petersburg, a Банки.ру correspondent states.

    28.06.2016 г.

    Protecting consumer rights

    The regulator deems protecting the rights of financial services consumers and improving public trust in financial markets to be its most important task

    Protecting the rights of financial services consumers has become the number one priority on the list of primary areas for development of the financial market in 2016–2018, since it is an important condition for ensuring public trust in the sector. In turn, such trust will make it possible to achieve the key objective of the Bank of Russia: to improve people’s living standards and quality of life by using financial market tools.

    22.06.2016 г.

    Financial market will not be allowed to damage business reputation

    Regulators and SROs are to consider general assessment criteria 

    The approach to determining the criteria for assessing the business reputation, qualifications, and financial status of founders, management bodies, and officials of financial companies may be set to change. This issue will be discussed at a roundtable to be held at the 25th International Financial Congress.

    15.06.2016 г.

    The future of money and money of the future

    The future of money and money of the future will be discussed at the roundtable “Cash circulation and non-cash payment strategy. Vision of the regulator and market participants”, which will be held on June 30 as part of the 25th International Financial Congress in St. Petersburg.

    10.06.2016 г.

    Trustees Want Trust

    The market and regulator are to discuss how to make investments in Mutual Investment Funds (MIFs) more popular

    According to the latest CB data, fiduciary management agreements account for a minimal share of agreements concluded by professional stock market players with their clients. Yet it is in this sector that we see the highest client activity. At the roundtable “Fiduciary Management: Prospects of the Industry” on June 30, Representatives of the industry, the regulator and SRO are to discuss ways to attract retail investors to the market for collective fiduciary management. 

    03.06.2016 г.

    Bank of Russia to Develop Compliance Standards

    The financial market to get general guidelines

    CB, Moscow Exchange and Sberbank representatives are to discuss fair practices on the financial market. A roundtable devoted to in-house audit, in particular compliance procedures and development of professional judgment, will be held on 1 July, as part of the 25th International Financial Congress. One of the roundtable’s key topics will be developing unified standards for in-house audit by financial companies.

    31.05.2016 г.

    International Financial Congress to Be Held from 29 June to 1 July at the Presidential Library

    The 25th International Financial Congress will be held from 29 June to 1 July at the Presidential Library named after Boris Yeltsin in St. Petersburg. The library is located in the historical centre of St. Petersburg close to St. Isaac’s Cathedral and Senatskaya Square. This year, the Congress is devoted not only to the banking business but also to the finance industry in general.

    19.05.2016 г.

    The future of financial markets to be discussed at the International Financial Congress this summer in St. Petersburg

    The business programme has been published of the XXV International Financial Congress, which will take place from June 29 through July 1, 2016 in St. Petersburg. The key topic of the International Financial Congress 2016 is ‘The Future of Financial Markets’. The Congress is held by the Bank of Russia and the operator of the event is the Roscongress Foundation.

    17.05.2016 г.

    Interview by Deputy Governor of the Bank of Russia Alexei Simanovskiy for the Interfax news agency

    The International Banking Congress held by the Bank of Russia for the 25th time has been renamed the International Financial Congress. Why the decision to change the name?
    This has to do with the fact that the Bank of Russia has been operating as a mega-regulator for the past two years, so we decided to broaden the focus of the Congress from just credit institutions to the financial industry as a whole. This year participation will be expanded, with representatives of non-banking credit institutions, insurance companies, pension funds and micro-lenders taking part in our Congress.

    05.06.2015 г.

    Central bank of Russia: conservative budget policy is a cornerstone of macroeconomic stability

    Conservative budget policy is a cornerstone of macroeconomic stability said Governor of Central Bank of Russia Elvira Nabiullina during a dialogue with Anton Siluanov, the Minister of Finance of Russian Federation during the International Banking Congress. 

    04.06.2015 г.

    Russian Central bank is considering the introduction of liquidity coverage ratio for 20 of the largest banks.

    CB of Russia is considering introduction of liquidity coverage ratio (LCR) for 20 largest bank of Russia, said deputy governor of CB of Russia Vassily Pozdishev on Thursday during a press conference at the 24th International Banking Congress in St Petersburg.

    04.06.2015 г.

    Georgy Poltavchenko spoke at the opening of the Banking Congress

    The 24th International Banking Congress opened in St Peterbsurg today. St Petersburg Governor Georgy Poltavchenko spoke at the opening ceremony that had been attended by the Governor of the Central Bank of Russia Elvira Nabiullina. 

    04.06.2015 г.

    Nabiullina: Russia’s financial system has adapted to the new reality

    Russia’s financial system and balance of payments have adapted to the new reality, where the country’s economy still hasn’t, said the Governor of the Central Bank of Russia Elvira Nabiullina.

    04.06.2015 г.

    Government managed to neutralize financial instability risks

    The government of Russian Federation for the most part managed to neutralize the risks of financial instability in the extraordinary situation of the past year, said the Governor of the Central Bank of Russia Elvira Nabiullina.

    29.01.2015 г.

    The programme for the XXIV International Banking Congress has been finalized. The general theme of IBC-2015 will be “The Financial Industry: Challenges and Solutions?”

    The XXIV International Banking Congress, will take place in St. Petersburg on June 3–5, 2015, under the theme The Financial Industry: Challenges and Solutions.

    г.

    The Central Bank proposes introducing new restrictions for private investors

    The Bank of Russia proposes introducing new restrictions for private investors, limiting the list of instruments in which they may invest funds of individuals without experience and education

    The Bank of Russia is proposing to raise the requirements on qualified investors and introduce a new category of ‘professional investor’. This is mentioned in a speech (available to RBC) given by Mikhail Mamuta, head of the Bank of Russia Service for Protection of Financial Services Consumers and Minority Shareholders, at the XXV International Financial Congress in St. Petersburg.

    г.

    Nabiullina calls Brexit a “black swan” for the financial markets

    This year’s referendum on the UK’s exit from the European Union was a “black swan” for the financial markets, according the Governor of the Bank of Russia Elvira Nabiullina, speaking at the International Financial Congress.