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.
In 2020 Russia will see the birth of investment platforms, which are financial organizations of a new type. Through them, individuals and companies can secure loans directly from investors. However, in the majority of countries they are not subject to financial regulation.
Due to the small size and volatility of the Russian money market, Russian entities choose two extremes as benchmarks for their interest rates – the key interest rate and the MosPrime rate, at which banks themselves do not lend to one another.