The Central Bank of Russia published its Banking Regulation Review for 2025 Q2, setting out near-term regulatory work and summarising measures already implemented in banking regulation and supervision. Planned initiatives include engaging market participants on a concept for new requirements for subordinated instruments and publishing updated approaches to credit institutions’ internal capital adequacy assessment processes to assess their regulatory impact. Recent initiatives cited in the review include the transition of all banks with a universal licence to a finalised, more risk-sensitive approach to calculating capital adequacy ratios, alongside decisions on assessing credit concentration. Updated requirements for banks’ financial stability recovery plans were submitted for state registration, with stress scenario parameters and indicators established for triggering recovery measures. The Central Bank of Russia also referenced previously released materials on promising areas for banking regulation and supervision, planned changes to risk assessment for lending to public-private partnership projects, and a concept for developing a method to assess banks’ economic situation.