PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of October 23, 2017 No. 611-P

About procedure for forming by credit institutions of reserves on possible losses

This Provision based on Articles 62, 69, 72 Federal Laws of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348, Art. 4357; No. 41, Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3891; No. 27, Art. 4225; Art. 4273, Art. 4295; 2017, No. 1, Art. 46; No. 14, Art. 1997; No. 18, Art. 2661, Art. 2669; No. 27, Art. 3950; No. 30, the Art. 4456), article 24 of the Federal law "About Banks and Banking Activity" (in edition of the Federal Law of February 3, 1996 No. 17-FZ) (Sheets of the Congress of People's Deputies of RSFSR and the Supreme Council of RSFSR, 1990, No. 27, Art. 357; Russian Federation Code, 1996, No. 6, Art. 492; 1998, No. 31, Art. 3829; 1999, No. 28, Art. 3459, Art. 3469; 2001, No. 26, Art. 2586; No. 33, Art. 3424; 2002, No. 12, Art. 1093; 2003, No. 27, Art. 2700; No. 50, Art. 4855; No. 52, Art. 5033, Art. 5037; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 1, Art. 18, Art. 45; No. 30, Art. 3117; 2006, No. 6, Art. 636; No. 19, Art. 2061; No. 31, Art. 3439; No. 52, Art. 5497; 2007, No. 1, Art. 9; No. 22, Art. 2563; No. 31, Art. 4011; No. 41, Art. 4845; No. 45, Art. 5425; No. 50, Art. 6238; 2008, No. 10, Art. 895; 2009, No. 1, Art. 23; No. 9, Art. 1043; No. 18, Art. 2153; No. 23, Art. 2776; No. 30, Art. 3739; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 8, Art. 775; No. 27, Art. 3432; No. 30, Art. 4012; No. 31, Art. 4193; No. 47, Art. 6028; 2011, No. 7, Art. 905; No. 27, Art. 3873, Art. 3880; No. 29, Art. 4291; No. 48, Art. 6730; No. 49, Art. 7069; No. 50, Art. 7351; 2012, No. 27, Art. 3588; No. 31, Art. 4333; No. 50, Art. 6954; No. 53, Art. 7605, Art. 7607; 2013, No. 11, Art. 1076; No. 19, Art. 2317, Art. 2329; No. 26, Art. 3207; No. 27, Art. 3438, Art. 3477; No. 30, Art. 4048; No. 40, Art. 5036; No. 49, Art. 6336; No. 51, Art. 6683, Art. 6699; 2014, No. 6, Art. 563; No. 19, Art. 2311; No. 26, Art. 3379, Art. 3395; No. 30, Art. 4219; No. 40, Art. 5317, Art. 5320; No. 45, Art. 6144, Art. 6154; No. 49, Art. 6912; No. 52, Art. 7543; 2015, No. 1, Art. 37; No. 17, Art. 2473; No. 27, Art. 3947, Art. 3950; No. 29, Art. 4355, Art. 4357, Art. 4385; No. 51, Art. 7243; 2016, No. 1, Art. 23; No. 15, Art. 2050; No. 26, Art. 3860; No. 27, Art. 4294, Art. 4295; 2017, No. 14, Art. 2000; No. 18, Art. 2661, Art. 2669; No. 25, Art. 3596; No. 30, Art. 4456; No. 31, the Art. 4754) (further - the Federal Law "About Banks and Banking Activity") and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of October 13, 2017 No. 27) establish procedure for forming by credit institutions of reserves on possible losses and implementation by the Bank of Russia of supervision of its observance.

Chapter 1. General provisions

1.1. Requirements of this provision do not extend on:

the loan, the loan and equated to it debt determined according to requirements of the Provision of the Bank of Russia of June 28, 2017 No. 590-P "About procedure for forming by credit institutions of reserves on possible losses by loans, the loan and equated to it debt", No. 47384 registered by the Ministry of Justice of the Russian Federation on July 12, 2017 (further - the Provision of the Bank of Russia No. 590-P);

requirements for other agreements (transactions) according to which calculations and delivery are performed not earlier than the next day after day of the conclusion of the agreement (transaction);

transactions with the Bank of Russia;

transactions in the corresponding currency with Central Banks of the countries having country estimates on classification of the export credit agencies participating in the Agreement of member countries of Organization for Economic Cooperation and Development (further - OECD) "About the basic principles of provision and use of the export loans having official support" (further - country estimates), "0", "1", or the countries with the high level of the income which is members of OECD and (or) the European Union, passed to single monetary unit of the European Union (further - the Eurozone) (information on country estimates and the countries with the high level of the income which is members of OECD and (or) the Eurozone is posted on the corresponding website by OECD on the Internet), with the organizations which according to the legislation of the respective countries are granted the right to perform transactions on behalf of the state;

monetary commitments by the return (urgent) part of transactions on alienation of financial assets with simultaneous adoption of obligations on their return acquisition;

investments of credit institutions in the share (share in the authorized capital) reducing the size of own means (capital) of credit institutions according to requirements of the Provision of the Bank of Russia of July 4, 2018 No. 646-P "About technique of determination of own means (capital) of credit institutions ("Basel III")", No. registered by the Ministry of Justice of the Russian Federation on September 10, 2018 52122, on December 19, 2018 No. 53064 (further - the Provision of the Bank of Russia No. 646-P);

investments in the securities acquired under contracts with the return sale and according to loan agreements;

investments in the bond of federal loans;

the assets reflected in financial accounting at fair value through profit or loss according to the Provision of the Bank of Russia of February 27, 2017 No. 579-P "About the Chart of accounts of financial accounting for credit institutions and procedure for its application", the registered Ministry of Justice of the Russian Federation on March 20, 2017 No. 46021, on July 20, 2017 No. 47474, on December 12, 2017 No. 49220, on March 12, 2018 No. 50299, on December 3, 2018 No. 52845 (further - the Provision of the Bank of Russia No. 579-P), and other regulations of the Bank of Russia about procedure for financial accounting in credit institutions, except for the elements of calculation base of reserve specified in Item 2.5 of this provision, the elements of calculation base of reserve specified in Item 2.6 of this provision if the credit institution exercises control (or joint control) over the managing company managing assets of credit institution or exerts considerable impact on activities of such managing company, and the cases specified in the paragraph the second subitem 2.6.2.1 of Item 2.6 of this provision. Determination of control and considerable influence is performed according to the approaches applied to determination of control and considerable influence for the purpose of the Provision of the Bank of Russia of October 2, 2017 No. 606-P "About procedure for reflection on accounts of financial accounting by credit institutions of transactions with securities", No. registered by the Ministry of Justice of the Russian Federation on December 12, 2017 49215, on July 18, 2018 No. 51630);

agreements on which action of the Provision of the Bank of Russia of July 4, 2011 No. 372-P "On procedure for financial accounting of derivative financial instruments", No. registered by the Ministry of Justice of the Russian Federation on July 22, 2011 21445, on December 6, 2013 No. 30553, on December 18, 2015 No. 40165, on December 8, 2017 No. 49187 expatiates;

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