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At the same time, the coverage of clients' foreign currency funds and foreign exchange liabilities remains quite comfortable at 20% and 14%, respectively, the CBR says.
OFZ: Investments in debt securities grew insignificantly, by RUB49bn . after RUB83bn in August. This is due, among other things, to a significant reduction in the issue of OFZs against the background of the Ministry of Finance's implementation of the quarterly borrowing plan worth RUB700bn to RUB180bn with RUB413bn issued in August, while the share bought out by Russian banks remained at 60%. By the end of the year, the Ministry of Finance of Russia plans to place another RUB500bn.
Capital: The sector's balance sheet capital grew by RUB138bn, to RUB11.6 trillion , which is lower than the earned gains due to negative revaluation of securities valued through other aggregate income (-RUB63bn).
CAR: Total capital adequacy ratio (Н1.0) in September remained at the level of 12.4%, mainly due to earned profit, which offset the impact of growth risk-weighted assets. Capital stock increased (+ 1.2%) and amounted to RUB6.2 trillion (about 10% of the loan portfolio, but it should be borne in mind that it is unevenly distributed among banks).
8.1.7 Banks specific issues
Savings made through bank deposits, bonds, investments, endowment life insurance (NSH), or renting out real estate may assist maintain a decent living after retirement, according to Pavel Guzhikov, the founder and CEO of the fintech business Money Forward.
A bank deposit, according to the expert, is one of the most common vehicles for establishing a financial reserve. It’s similar to buying bonds in that it’s a low-risk investment. It should be noted, however, that the revenue generated by these ways is much smaller than that generated by other methods, Sputnik Radio reports.
Shares can provide a greater return; the advantage from this instrument can be gained through dividends or through the increase in the value of the share itself. However, keep in mind the dangers: the firm may stop being successful, and the stock’s value may plummet.
Moreover, among the tools, the specialist mentioned accumulative life insurance (NLI) and real estate leasing. According to him, the latter technique typically provides around 4-5 percent of annual income to retirees.
In another sign of the Duma's growing role managing economic policy, the Duma is now considering a law that would link mortgage interest rates to regional wage levels. Speaker Vyacheslav Volodin thinks a link with average wages would be a useful policy to consider as a means to afford Russians living in regions with lower wages and fewer high-wage jobs the opportunity to buy in their home region. His chief aim seems to be preventing regional labor deficits as a result of internal migration to Moscow, St. Petersburg, or European Russia if you live in Siberia and the Far East.
96 RUSSIA Country Report November 2021 www.intellinews.com