Digitalisation is changing the payment market and consumer behaviour in many countries. This raises the question of whether it would be expedient to introduce an additional form of money that would meet the requirements of the digital age: a central bank digital currency.
The evolution of cross-border financial services has created new relations that are not regulated by any supranational body. This gives rise to the problem of regulatory arbitrage, which does not yet have a common solution.
Despite their common past, the banking markets of the largest CIS countries differ significantly in many aspects: from their level of competition, structure, and transparency to the features of the regulatory environment, and the anticrisis measures of their regulators.
The Bank of Russia is taking over the administration of the RUONIA rate, a benchmark interest rate for Russia's monetary policy and public debt. This is a part of the global benchmark interest rate reform consequential to the global financial crisis.
Adherence to high standards of corporate governance in the banking sector can reinforce the resilience of the banking system. However, existing corporate governance practices do not help curb the risks banks take.