Prune60 Profile picture
Oct 19 5 tweets 2 min read Read on X
‼️ Russia: “Corporate lending growth in Russia is not slowing down despite the central bank's expectations and its efforts to raise its key rate”

RCB: OMG! STOP LENDING!

Russian Banks: 🤔…no

moscowtimes.ru/2024/10/18/kor…Image
The “head of the Central Bank of Russia Elvira Nabiullina said that corporate lending is currently accelerating and the regulator is discussing with the expert community the advisability of introducing macroprudential limits on such loans.”

RCB: Stop or I will MAKE YOU STOP Image
Is there any chance that the Central Bank turns to lethal force in order to enforce monetary policies?

😅
I wonder if the head of VTB Bank remembers this when he makes disparaging remarks about the women at the Russian Central Bank?

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More from @Prune602

Oct 19
‼️ The OFZ Federal Bond Thread: Russia’s Race to Secure a Loan!

Q4 Auction Day 3 of 13

Part 6: More Analysis

(Don’t forget to use your bookmark)

If you don’t know where the rest of the thread is, worry not! Image
Here’s the table of contents, don’t forget your bookmarks!
In Part 5 we were discussing the problem of the demand.

So there are a few possible reasons for the demand to be dropping.

We already discussed the fact that there were some variables related to what they happened to be offering, and the Central Bank meeting coming up.
Read 23 tweets
Oct 18
‼️ The OFZ Federal Bond Thread: Russia’s Race to Secure a Loan!

Q4 Auction Day 3 of 13

Part 5: Analysis of the Charts

(Don’t forget to use your bookmark)

If you don’t know where the rest of the thread is, worry not! Image
At the end of the Part 4, we discussed the problem with the banking liquidity. And to be honest…unless they can solve THAT problem, the rest of this is probably moot

But we’ll go over it.
Read 24 tweets
Oct 18
I saw something I found funny that happened. But it takes a few steps to get there.

Here we go…

1. The Russian Ministry of Finance realized that they have an increasing deficit, and need to fine more revenue to cover their expenses
2. The Russian government then increased the mineral extraction tax on GOLD beginning July 1st 2024

interfax.ru/russia/987392Image
3. The Ministry of Finance is falling behind on bond sales to fund the deficit. Part of the problem is the reduced liquidity in banks.

Part of the problem is that Russians won’t put their foreign currency in banks, because they might not be able to get it back out again.
Read 7 tweets
Oct 18
‼️ The OFZ Federal Bond Thread: Russia’s Race to Secure a Loan!

Q4 Auction Day 3 of 13

Part 4: CHARTS

(Don’t forget to use your bookmark)

If you don’t know where the rest of the thread is, worry not! Image
Here is the Table of Contents

Bookmark it if you haven’t
I do want to remind you that there is a lot of discussion that was had in the previous OFZ Auction Day threads that I linked to back in Part 1.

In addition, I’ve been discussing some of these things in the Russian Debt thread. It will help you understand some basics.
Read 20 tweets
Oct 18
‼️ The OFZ Federal Bond Thread: Russia’s Race to Secure a Loan!

Q4 Auction Day 3 of 13

Part 3

(Don’t forget to use your bookmark)

If you don’t know where the rest of the thread is, worry not! Image
Here’s a Table of Contents, check back for updates. Remember: It’s not over until I say it’s over!
Now we need to talk about what else happened. Actually 2 things happened.

When I made the first thermometer chart, I had to know how big to make it. That meant I need to know how much they OFZ they intended to place.
Read 24 tweets
Oct 17
‼️ The OFZ Federal Bond Thread: Russia’s Race to Secure A Loan!

Q4 Auction Day 3 of 13

Part 2

(Don’t forget to use your bookmark)

If you don’t know where the rest of the thread is, worry not! Image
I’ve got a table of contents!

It’s not over until I say it’s over, so remember to check back for more details!
At the end of Part 1, We were discussing the Basic Standard Operating Procedure about how these Auctions are Generally Held/Reported on.

We had reached the point that the Auction Day events are completed on a Wednesday.

So how do we find out what happened?
Read 24 tweets

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