The Bank of Russia published a semi-annual report on the activities of the Interest Rate Monitoring Committee RUONIA

Here is a summary of the provided document:

Summary:

The report presents the results of the Russian National Interbank Currency Market (RUONIA) benchmarking study, conducted during the 2023 calendar year. The study aims to assess the current state of the Russian banking system, including the implementation of the RUONIA benchmarking methodology, and its impact on the financial market. According to the report, the average daily volume of operations performed by RUONIA participants was approximately 464 billion rubles, which is higher than the previous year's result.

The study finds that RUONIA is well-positioned for the 2024 calendar year, with plans to maintain the current methodology and continue to support the development of the Russian banking system. Additionally, the report highlights the importance of IT infrastructure development and adoption by Russian banks, emphasizing the need for innovation and digitalization in the financial sector.

** irrelevant information: ** None