Mega regulator

The net profit of the Central Bank at the end of 2014 amounted to 183 billion rubles, which is almost 45% higher than the same figure in 2013, said Deputy Chairman of the Bank of Russia Nadezhda Ivanova, speaking at a meeting of the State Duma Committee on the Financial Market. “According to preliminary data, the Central Bank’s profit for 2014 amounted to 183 billion rubles,” she said. According to her, if the bill on transferring part of the Central Bank’s profits to recapitalize VEB is adopted (will be considered in the first reading on April 24), the profits will be divided. “After the bill is adopted, the Central Bank will transfer 75% of the profit, or 137 billion rubles, to the budget, and will transfer 15% for additional capitalization of VEB, which will amount to 27.5 billion rubles,” said Ms. Ivanova.

TASS

The regulator will monitor MosPrime

The Bank of Russia plans to introduce voluntary accreditation of contributors using indicator rates, including MosPrime, said Elena Chaikovskaya, director of the financial markets development department of the Central Bank of the Russian Federation, at the Financial Stability Forum. A contributor to a financial indicator is usually called a bank or other market participant that provides data for the formation of this indicator. “A methodology for accreditation will be developed, it will be agreed upon within the Central Bank,” said Ms. Chaikovskaya. According to her, the main purpose of accreditation is to avoid manipulation. Presumably, the accreditation mechanism will start working in the summer. Earlier, the head of the Central Bank's financial stability department, Sergei Moiseev, said that the Bank of Russia conducted an audit of the MosPrime rate. No evidence of manipulation was identified, but problems were identified related to the influence of the contributor’s position on the rate.

Interfax

Banks

Sovcombank and Petrocommerce signed agreements with DIA on additional capitalization

Sovcombank and Petrocommerce Bank have already signed agreements with the Deposit Insurance Agency (DIA) on additional capitalization through OFZ, Deputy Minister of Finance Alexey Moiseev told reporters. He noted that the signing of similar agreements is expected with four more banks: Novikombank, FC Otkritie, Absolut Bank and Rossiya. “The main delay is due to the fact that banks are addressing their corporate governance issues. In addition, banks are considering the opportunities that the 98th federal law, signed by the president this week, gives them,” noted Mr. Moiseev. This law allows the DIA to direct OFZs to the first-tier capital of banks. The Deputy Minister of Finance clarified that Gazprombank and VTB did not submit such applications to the DIA. In total, 27 largest banks, as well as sanctioned players, can apply for additional capitalization through OFZs as part of the anti-crisis plan. Not all credit institutions included in the list applied for financial assistance through the OFZ mechanism: in particular, Alfa-Bank, VTB 24 and Svyaz-Bank announced that they did not intend to use this mechanism. According to the head of the DIA, Yuri Isaev, as of April 7, assistance in the amount of 155 billion rubles was requested. 12 banks from the approved list applied.

TASS

The Central Bank calculates profits