|
OFZ (bond)
OFZ (abbreviation for ) are coupon-bearing federal loan bonds issued by the Russian government. The Ministry of Finance auctions off OFZs to finance the federal budget, or less commonly, to bail out troubled banks. Given their role, they form an essential part of the Russian financial system. OFZs were introduced in June 1995 to complement the GKO market as an instrument with medium and long-term standing. Inflation-linked OFZ bonds are also issued. In August 1998, the Russian government defaulted on domestically issued debt, including OFZs. In 2012, OFZs were connected to the pan-Europe settlement system Euroclear. The share of foreign-held OFZs increased from nearly zero in 2006 to 25% by the end of 2013. As of February 2018, 33.9% of all outstanding OFZs were held by foreigners. By September 2018 the number had dropped to 27%, due to the threat of further US sanctions against the Russian economy. In February 2022, ING reported that the share of OFZs held by non-Russians has dr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Russia)
The Ministry of Finance of the Russian Federation (), also known as ''MinFin'' (Минфин России), is a Ministry (government department), ministry of the Government of Russia responsible for financial policy and general management in the field of finance. The Ministry of Finance was formed from the Ministry of Finance (Soviet Union), Ministry of Finance of the USSR in 1992 and claims descent from the Ministry of Finance of the Russian Empire first established in 1780. It is headquartered at Ilinka Street 9 in Tverskoy District, Moscow. Anton Siluanov has served as the Minister of Finance since September 2011. History The Treasury Governing body in Russia was established by Imperial Decree of Catherine the Great, Catherine II in October 24, 1780, as The Expedition of state revenues, which was, in fact, the beginning of the creation of state financial authority in Russia. Manifesto of the Emperor Alexander I of Russia, Alexander I "On approval of the Ministries" was fou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation-indexed Bond
Daily inflation-indexed bonds (also known as inflation-linked bonds or colloquially as linkers) are bonds where the principal is indexed to inflation or deflation on a daily basis. They are thus designed to hedge the inflation risk of a bond. The first known inflation-indexed bond was issued by the Massachusetts Bay Company in 1780. The market has grown dramatically since the British government began issuing inflation-linked Gilts in 1981. As of 2019, government-issued inflation-linked bonds comprise over $3.1 trillion of the international debt market. The inflation-linked market primarily consists of sovereign bonds, with privately issued inflation-linked bonds constituting a small portion of the market. Structure Daily inflation-indexed bonds pay a periodic coupon that is equal to the product of the principal and the nominal coupon rate. For some bonds, such as in the case of TIPS, the underlying principal of the bond changes, which results in a higher interest paymen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euroclear
Euroclear, or the Euroclear Group, is a Belgium-based financial market infrastructure group that specialises in the central securities depository (CSD) segment. It traces its origins to the Euro-clear System developed in 1968 by Morgan Guaranty (a predecessor of JPMorgan Chase) in Brussels to settle trades on the then developing eurobond market. The service was rebranded Euroclear (without hyphen) in 1990. In late 2000, the Euroclear System was transferred to a new entity, Euroclear Bank, a fully-owned subsidiary of the Euroclear Group that has remained one of the world's two leading international CSDs, the other being Clearstream Banking SA in nearby Luxembourg. Other entities of the Euroclear group include major national CSDs acquired by Euroclear in the 2000s in Belgium, Finland, France, the Netherlands, Sweden, and the UK. The name "Euroclear" is often misinterpreted as indicating a clearing activity of the Euroclear group, which is actually not the case. This confusion co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Settlement Depository (Russia)
The National Settlement Depository (NSD), headquartered in Moscow, is a Russian non-bank financial institution and central securities depository (CSD). It provides depository, settlement (bank account), and related services to financial market entities. Its services cover both securities listed in Russia's 2011 Federal Law "On the Central Securities Depository", and other Russian and foreign equity and debt securities. NSD is the CSD of the Russian Federation, and was assigned CSD status by the Federal Financial Markets Service (Russia), Russian Federal Financial Markets Service in 2012. It is the largest securities depository in Russia by market value of equity and debt securities held in custody, which in June 2022 were 70 trillion roubles ($1.12 trillion). It is a member of the Moscow Exchange Group. In March 2022, in the wake of the 2022 Russian invasion of Ukraine, NSD's accounts were blocked and frozen at international CSDs Euroclear Bank and Clearstream Banking SA (CSDs which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Russia
The Central Bank of the Russian Federation (), commonly known as the Bank of Russia (), also called the Central Bank of Russia (CBR), is the central bank of the Russian Federation. The bank was established on 13 July 1990. It traces its beginnings to the State Bank of the Russian Empire established in 1860. The bank is headquartered on Neglinnaya Street in Moscow. Its functions are described in the Constitution of Russia (Article 75), as well as in federal law. History Shortly after declaring sovereignty in June 1990, the Russian SFSR decreed the creation of a central bank under the leadership of . Matiukhin commandeered Russian branches of the State Bank of the USSR and brought them under the control of the Bank of the RSFSR. A comprehensive central bank statute was passed in December 1990 and the bank adopted a charter in June 1991. A remnant of the State Bank continued to operate alongside it until it was dissolved along with the Soviet Union in December 1991, and the Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
