INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 15, 2019 No. 5316-U

About procedure for reflection on accounts of financial accounting of assets in foreign currency credit institutions concerning which the measures of restrictive nature entered by foreign state, national association and (or) the union and (or) the public (interstate) institution of foreign state or national association and (or) union are effective

This Instruction based on article 57 of the Federal Law 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; 2018, No. 53, the Art. 8440) (further - the Federal Law of July 10, 2002 No. 86-FZ), article 21 of the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting" (The Russian Federation Code, 2011, No. 50, Art. 7344; 2019, No. 30, the Art. 4149) 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 November 8, 2019 No. 30) establish procedure for reflection on accounts of financial accounting of assets in foreign currency by credit institutions concerning which the measures of restrictive nature entered by foreign state, national association and (or) the union and (or) the public (interstate) institution of foreign state or national association and (or) union are effective (further - measures of restrictive nature).

1. Assets with which because of measures of restrictive nature making of transactions or transactions is forbidden (further - the blocked assets) are reflected in accounts of financial accounting in the following procedure.

1.1. The blocked assets are considered on balance sheet accounts of the Chart of accounts of the financial accounting for credit institutions established by 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, on January 16, 2019 No. 53372, on March 26, 2019 No. 54165 (further - the Provision of the Bank of Russia No. 579-P) in which such assets were reflected in case of initial recognition.

1.2. For further reflection in financial accounting of the blocked assets in the rubles which are registered on Date of Introduction of the specified prohibition on personal accounts of financial accounting (further - personal accounts) in foreign currency, without recalculation of their cost in connection with change of the official rate of foreign currency in relation to ruble established by the Bank of Russia according to Item 15 of article 4 of the Federal Law of July 10, 2002 No. 86-FZ (The Russian Federation Code, 2002, No. 28, Art. 2790; 2019, No. 29, the Art. 3857) (further - the official rate), the governing body of credit institution performing the current management of activities of credit institution makes the decision on reflection of the blocked assets in rubles on the official rate operating for decision date (further - the decision).

1.3. The made decision affirms as accounting policy of credit institution.

1.4. In case of decision making according to subitem 1.2 of this Item the credit institution in financial accounting performs transfer of remaining balance from personal accounts in foreign currency on personal accounts in rubles.

1.5. Transfer of remaining balance from personal accounts in foreign currency on personal accounts in rubles is performed on the official rate operating for decision date.

1.6. Further recalculation of cost of the blocked assets on which the decision according to subitem 1.2 of this Item is made in connection with change of the official rate is not performed.

1.7. To decision date, this Item specified in subitem 1.2, financial accounting of the blocked assets reflected in personal accounts in foreign currency is conducted according to the procedure, stipulated in Item 17 parts I of appendix to the Provision of the Bank of Russia No. 579-P.

2. This Instruction becomes effective from the date of its official publication.

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