Contents tagged with Bank of Russia
Russia's Rostec State corporation and the Bank of Russia will switch over to a national system for the transfer of financial messages of the Bank of Russia (SPFS), an equivalent of the SWIFT (Society for Wordwide Interbank Financial Telecommunications) service. The press service of Rostec reported that the system will be used as a channel for the exchange of financial information between all participants of the SPFS. “The digital infrastructure will exchange data in an encrypted mode, which …
According to the Central Bank of Russia, the net capital outflow from Russia increased by 120% in January-May 2017, reaching $22.4 billion as compared to $10.3 billion in the same period last year, according to preliminary estimates.
"Since the beginning of the year, the net outflow of capital by the private sector, according to preliminary data, has risen to $22.4 billion, as compared to $10.3 billion the year prior," the regulator's survey notes.
As the Central Bank explained, "the …
The Bank of Russia announced a significant increase in the capital flight from Russia in January-April 2017. According to the regulator, net amount of transfer of capital by the private sector during this period was $21 billion. This is more than double that of the first four months of the previous year ($9.8 billion).
"In contrast to the situation a year ago, the main factor in the net outflow was the transfer of the funds by the banking sector overseas following the continued increase of …