Macroprudential policy (MPP) has become popular around the world after the global financial crisis of 2007-2009. Before the crisis, macroeconomic stability (sustainably low inflation and a balanced budget) and resilient financial institutions were considered sufficient to ensure financial stability. The crisis has shown, however, that systemic risks should also be taken into account. To prevent bubbles from forming and collapsing, efficient regulation and supervision of the financial sector should be supplemented with MPP measures. In general, financial stability requires balanced monetary and fiscal policies, MPP limiting systemic risks, and microprudential policy ensuring the resilience of each financial institution. The Bank of Russia has been implementing MPP to limit systemic risks since 2013 when it first introduced higher risk weights for unsecured consumer loans with a high effective interest rate (EIR). Higher capital requirements were then used to limit risks in mortgage lending and discourage foreign currency lending to companies. Since 2018, decisions on macroprudential add-ons to banks’ capital have been made by the Bank of Russia Board of Directors. In 2023, the Bank of Russia started using macroprudential limits (MPLs) to influence the structure of unsecured consumer lending. In 2025, the Bank of Russia introduced a positive countercyclical capital buffer (CCyB) rate for the first time and was authorised to use MPLs in mortgage and car lending. Hence, the Bank of Russia currently has a wide range of MPP instruments. Since 2013, the Russian financial system has experienced several credit cycles and three financial crises. The Bank of Russia’s experience shows that MPP allows to contain the accumulation of vulnerabilities in the upward phase of the credit cycle and facilitates a faster recovery of the financial sector after the crisis. This report describes the system of MPP decision-making in the Bank of Russia, outlines the procedure for using various instruments, and analyses the interrelations between MPP and other policies pursued by the Bank of Russia.