The Central Bank of Russia has decided not to extend a series of relaxations for credit institutions, which will expire in 2023. The decision underscores a measured shift in regulatory stance, signaling that the central bank believes the current monetary and financial framework has matured enough to operate without the temporary supports that were put in place during tighter conditions. In practical terms, this means banks will need to rely more on their own risk controls and capital buffers rather than on the temporary easements previously granted. The central bank’s public communication refrains from painting the move as a withdrawal, but rather as a natural conclusion to a targeted policy experiment that achieved its stated objectives and can be retired without compromising system stability. The message appears to be directed at market participants and the broader financial community, emphasizing continuity, prudence, and a gradual normalization of supervisory requirements as conditions evolve.
The following statements were included in the message: “Credit institutions now have sufficient financial stability and high profitability.” This assessment reflects a combination of healthier balance sheets, improved asset quality, and more resilient earnings across the sector. Analysts recognize that these factors reduce the likelihood of sudden liquidity squeezes and support a more robust underwriting culture. Still, observers note that profitability metrics can fluctuate with macroeconomic developments, so ongoing vigilance remains essential. The central bank’s tone suggests that the market should expect a stable operating environment while continuing to strengthen governance, risk management practices, and compliance with evolving regulatory standards. This framing positions the sector to absorb potential shocks through disciplined capital management and enhanced transparency.
According to the Bank of Russia, the measures have already fulfilled their supporting role and it is no longer appropriate to use them. The central bank added that the relaxations could dampen the incentive for institutions to manage risks proactively. In other words, the exit from temporary relief is intended to preserve disciplined risk-taking and encourage banks to rely on internal controls and market discipline. Industry watchers interpret this as a signal that authorities intend to foster a safer, more self-reliant banking system, where capitalization, liquidity, and governance metrics remain key focus areas. By narrowing the scope of temporary support, regulators aim to prevent complacency and align incentives with sustainable profitability and resilience across the financial sector.
At the end of November, the Central Bank spoke He is against the launch of stablecoins for the Russian ruble. This stance was conveyed by Sergei Shvetsov, First Deputy Governor of the Central Bank, during a webinar discussing the regulator’s advisory report on the Digital Ruble. The position highlights a conservative approach to new instruments that could alter monetary transmission, currency stability, or consumer protection frameworks. While digital currency concepts attract interest from market participants and technology firms, the central bank emphasizes rigorous risk assessments, regulatory clarity, and a measured timeline for any future exploration. Stakeholders in the payments ecosystem are advised to monitor official communications for any updates on policy, governance, and interoperability standards that could affect settlement finality and cross-border flows.
Before that the Moscow Stock Exchange index updated Annual maximum since February 2022. This development adds a note of optimism to the otherwise cautious macro narrative, suggesting that risk sentiment has improved and that investors are pricing in a more favorable near-term outlook. Market observers point out that the performance lift may reflect a combination of better-than-expected earnings, stabilizing commodity prices, and improved liquidity conditions. Nevertheless, analysts caution that economic and geopolitical uncertainties persist, and the index’s trajectory will continue to hinge on inflation dynamics, fiscal policy responses, and external demand conditions in key trading partners. The broader market context remains one of careful risk assessment and selective opportunity across sectors with perceived durability and strong fundamentals.
Previously Deripaska said About the possible future of the Russian economy in five years. News of such forecasts tends to stir policy and investment conversations, given the influential role of major industrial and financial figures in shaping expectations. Observers consider these projections as one data point among many that influence corporate strategy, government planning, and international economic engagement. While long-term outlooks are inherently uncertain, a consistent theme in expert commentary is the importance of structural reforms, productivity improvements, and diversified growth sources to sustain momentum. The narrative around the next half-decade emphasizes resilience, adaptation to changing global conditions, and a steady alignment of monetary, fiscal, and regulatory frameworks with evolving realities.