Ksenia Yudaeva

Bank of Russia First Deputy Governor

Publications

Crypto Ecosystems and the ‘Rules of the Road’

15 december 2021 | Ksenia Yudaeva

As cryptocurrencies and other digital financial assets gain popularity, regulators are increasingly alarmed about the potential risks to financial stability they bring. Additional steps are needed to ensure that money surrogates are not used for payments.

Direct Quantitative Restrictions: Why Limit High-Risk Loans?

29 october 2021 | Ksenia Yudaeva

Direct quantitative restrictions, or macroprudential limits, are a limitation of the share of high-risk loans in new lending by banks. These measures help to prevent the accumulation of borrower risks and thereby reduce the risks of the financial sector.

Bank of Russia Policy During the Covid-19 Pandemic

16 june 2021 | Ksenia Yudaeva

Designed its policy response during the Covid-19 crisis, the Russian central bank addressed the consequences and spillovers of all three shocks facing the Russian economy: the demand and supply shocks, increased asset price volatility, and a collapse of oil prices.

Bad Debts and Economic Growth

12 november 2019 | Ksenia Yudaeva

A sound banking system, a moderate bad debt level, prompt recognition of the problem which bad debts pose and dealing with them effectively, are essential preconditions of not only financial stability and depositor protection but also of economic growth.

Advancing the Frontiers of Monetary Policy: The Book by the Architects of Inflation Targeting

17 march 2019 | Ksenia Yudaeva

The worldwide development of the inflation targeting regime raises new and controversial issues, which the Bank of Russia too must confront.