Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

It is registered

Ministry of Justice

Russian Federation

On September 2, 2021 No. 64857

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 2, 2021 No. 5873-U

About establishment of obligatory capital adequacy ratio for the professional participants of the security market performing dealer, broker activities, the securities management and activities Forex dealers

This Instruction based on article 76.4 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; 2013, No. 30, the Art. 4084), Item 3 of article 42 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2021, No. 27, the Art. 5171) 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 July 23, 2021 No. PSD-16) establish obligatory capital adequacy ratio for the professional participants of the security market performing dealer, broker activities, the securities management and activities Forex dealers.

Chapter 1. General provisions

1.1. The obligatory capital adequacy ratio (further - NDK) for the professional participants of the security market performing broker, dealer activities, the securities management and activities Forex dealer (further - professional participants), is established in the following minimum admissible numerical values (further - the NDK minimum value):

4 percent since October 1, 2021;

6 percent since April 1, 2022;

8 percent since October 1, 2022.

1.2. Calculation of NDK shall be perfromed by the professional participant on formula:

 

Формула 1 к Указанию ЦБ РФ от 02.08.2021 г. №5873-У

where:

To - the capital size calculated by the professional participant according to Item 2.1 of this Instruction;

The KR - the size of credit risk calculated by the professional participant according to Item 3.1 of this Instruction;

RR - the size of market risk calculated by the professional participant according to Item 4.1 of this Instruction.

1.3. The professional participant shall expect NDK monthly the last calendar date of month, and in case of the direction of the requirement of the Bank of Russia according to Item 7 of article 44 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2019, No. 52, the Art. 7772) (further - the Federal Law "About the Security Market") - for the date provided in the requirement specified in this Item (further - settlement date).

1.4 The professional participant shall calculate NDK, including the size of the indicators accepted to calculation of NDK as of settlement date, having provided storage of information on them, and also about value of the calculated NDK within five years from settlement date.

1.5. The professional participant shall include in calculation of NDK in the ruble equivalent calculated on the official rate of foreign currency in relation to the 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 "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2021, No. 9, the Art. 1467) (further respectively - the Federal Law "About the Central Bank Russian Federation (Bank of Russia)", the official rate of foreign currency in relation to ruble), for settlement date of NDK, nominated in foreign currency:

balance sheet assets and liabilities of the professional participant;

off-balance requirements and obligations of the professional participant;

the size of assets of the client of the professional participant referred by the professional participant according to the agreement on broker servicing to category of clients with special risk level, according to the transactions made by the professional participant as the broker (broker) on its own behalf and at the expense of the specified client, calculated according to Item 3.15 of this Instruction (further - the client's line item with special risk level);

requirements of the professional participant to the client referred by the professional participant according to the agreement on broker servicing to category of clients with special risk level, according to the transactions made by the professional participant as the broker (broker) on its own behalf and for customer account, determined according to Item 3.19 of this Instruction (further respectively - the client with special risk level, requirements of the professional participant to the client with special risk level).

If the official rate of foreign currency in relation to ruble is not established by the Bank of Russia, the professional participant shall determine the foreign exchange rate with use of the official US dollar exchange rate in relation to ruble operating for date of determination of rate, and rate of this foreign currency to US dollar for the date preceding date of determination of rate.

1.6. The professional participant shall provide respect for the NDK minimum value on permanent basis.

1.7. If the professional participant revealed decrease in NDK below the NDK minimum value, the professional participant shall eliminate the discrepancy specified in this paragraph in the following terms:

within one month from the date of increase (lowering) in rate of risk by the clearing organization of reduction (increase) in the price of the security, precious metals or the foreign exchange rate calculated by the clearing organization according to Item 17 of appendix to the Instruction of the Bank of Russia of November 26, 2020 No. 5636-U "About requirements to implementation of broker activities when making by the broker of separate transactions for customer account", to No. 61923 registered by the Ministry of Justice of the Russian Federation on December 29, 2020 (further - the Instruction of the Bank of Russia No. 5636-U), - if decrease in NDK of the NDK minimum value resulted from increase (lowering) by the clearing organization of the risk rate provided in this paragraph below;

within two months from the date of publication on the official site of the Bank of Russia on the Internet of information on levels of credit ratings, the decision on which establishment is made by the Board of directors of the Bank of Russia according to Item 17.5 of part one of article 18 of the Federal law "About the Central Bank Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2021, No. 24, of the Art. 4210) (further - the level established by the Board of directors of the Bank of Russia), - if decrease in NDK below the NDK minimum value resulted from discrepancy of the assets taken into consideration of size of credit risk of the professional participant, to requirements of Chapter 3 presents of the Instruction in connection with acceptance by the Board of directors of the Bank of Russia of the decision specified in this paragraph.

1.8. Requirements of this Instruction do not extend to the following organizations:

on professional participants, being credit institutions, the state corporation of development "ВЭБ.РФ" (further - ВЭБ.РФ), single institute of development in the housing sphere which activities are regulated by the Federal Law of July 13, 2015 No. 225-FZ "About assistance to development and increase in management efficiency in the housing sphere and about modification of separate legal acts of the Russian Federation" (The Russian Federation Code, 2015, No. 29, Art. 4351; 2021, No. 27, Art. 5101);

on the professional participants having the license of managing company for implementation of activities for management of investment funds, mutual investment funds and non-state pension funds.

Chapter 2. Calculation of size of the capital of the professional participant performing dealer, broker activities, the securities management and activities Forex dealers

2.1. The professional participant shall calculate the capital size as the amount of the sizes of the fixed and supplementary capital calculated according to Items 2.2 and 2.3 of this Instruction respectively less the indicators specified in Item 2.7 of this Instruction.

2.2. The professional participant shall calculate the size of fixed capital of the professional participant as the amount of sizes of the indicators provided by subitems 2.2.1 - 2.2.7 these Items, reduced by the size of indicators, the stipulated in Item 2.4 presents of the Instruction, with observance of the requirement, the stipulated in Item 2.6 presents of the Instruction.

The professional participant shall include sizes of the following indicators in calculation of size of fixed capital.

2.2.1. The authorized capital of the professional participant constituted from nominal value of the ordinary shares acquired by shareholders if the professional participant is created in form of business of joint-stock company.

The authorized capital of the professional participant created in form of business of joint-stock company shall be taken by the professional participant into consideration of size of fixed capital regarding shares, the report on results of which release is registered by the Bank of Russia or the notification on results of which release is provided to the Bank of Russia for settlement date of NDK.

The professional participant shall determine the size of the authorized capital proceeding from nominal value of the ordinary shares acquired by shareholders including shares which issue was performed about day of entry into force of the Federal Law "About the Security Market".

In case of reorganization of the professional participant created in form of business of joint-stock company in the form of joining to it of other legal entity increase in the authorized capital of the professional participant to which the accession performed by placement of additional shares also is performed shall be taken by the professional participant into consideration of size of fixed capital of the professional participant. At the same time the specified increase in the authorized capital the professional participant shall take into consideration sizes of fixed capital of the professional participant from the date of entering into the Unified State Register of Legal Entities of record about the termination of activities of the last of the attached legal entities.

By reorganization of the professional participant created in form of business of joint-stock company in the form of transformation to limited liability company before date of entering into the Unified State Register of Legal Entities of record about creation as a result of reorganization of the legal entity the professional participant shall include the size of the authorized capital of the ordinary shares acquired by shareholders of the specified professional participant constituted from nominal value in calculation of size of fixed capital.

2.2.2. The authorized capital of the professional participant constituted from nominal value of shares of participants if the professional participant is created in form of business of limited liability company.

In case of reorganization of the professional participant created in form of business of limited liability company in the form of joining to it of other legal entity the professional participant shall take increase in the authorized capital of the professional participant to which accession is performed into consideration of size of fixed capital of the professional participant. At the same time the specified increase in the authorized capital the professional participant shall take into consideration sizes of fixed capital of the professional participant to which accession, from the date of entering into the Unified State Register of Legal Entities of record about the termination of activities of the last of the attached legal entities is performed.

By reorganization of the professional participant created in form of business of limited liability company, in the form of transformation to joint-stock company about day of registration by the Bank of Russia of the report on results of share issue of the specified joint-stock company the professional participant shall include the size of the authorized capital constituted from nominal value of shares of members of the specified professional participant in calculation of size of fixed capital.

2.2.3. The share premium of the professional participant determined by its choice by one of the following methods:

as difference size between share placing price (realization of shares) and their nominal value received when forming (increase) of the authorized capital of the professional participant;

as difference size between share value (share) calculated by the professional participant on the official rate of foreign currency in relation to ruble on the date of receipt of foreign currency in authorized capital payment of the professional participant and share par value (share) established in the decision of the professional participant on share issue (in the decision of general meeting of members (meeting of founders) of the professional participant on payment by share foreign currency).

The share premium of the professional participant created in form of business of joint-stock company shall be taken by the professional participant into consideration of size of fixed capital of the professional participant regarding the shares acquired by its shareholders including shares which issue was performed about day of entry into force of the Federal Law "About the Security Market".

The professional participant shall include share income of the professional participant created in form of business of limited liability company which is gained in case of increase in the authorized capital of the professional participant in calculation of size of fixed capital of the professional participant from the date following date of entering into the Unified federal register of data on the facts of activities of legal entities of record about increase in the authorized capital.

2.2.4. Profit of the current year of the professional participant if concerning accounting (financial) records in which the specified profit is reflected the professional participant has audit opinion specified in article 6 of the Federal Law of December 30, 2008 to No. 307-FZ "About auditor activities" (The Russian Federation Code, 2009, No. 1, of Art. 15; 2014, No. 49, the Art. 6912), the containing opinion of auditing organization, the individual auditor on reliability of accounting (financial) records of the professional participant (further - audit opinion).

2.2.5. Profit of prior years of the professional participant if concerning accounting (financial) records in which the specified profit is reflected the professional participant has audit opinion.

2.2.6. The non-paid financing provided to the professional participant by its shareholders (participants) and deposits to property of the professional participant in case of availability at the professional participant of the documents confirming origin sources at shareholders (participants) of the professional participant of the means (property) provided (provided) as non-paid financing and (or) deposits to property of the professional participant and if such property is the real estate object - also in case of availability of registration of the rights of the professional participant to real estate in the Single state real estate register.

2.2.7. Compound financial instruments emitted (issued) by the professional participant "The financial instruments determined according to the Section "Compound Financial Instruments" of the International accounting standard (IAS) 32: representation", the Ministry of Finance of the Russian Federation enacted in the territory of the Russian Federation by the order of December 28, 2015 No. 217n "About introduction of International accounting standards and Explanations of International accounting standards in action in the territory of the Russian Federation and about recognition No. which voided some orders (separate provisions of orders) of the Ministry of Finance of the Russian Federation", the registered Ministry of Justice of the Russian Federation on February 2, 2016 40940, on August 1, 2016 No. 43044 (further - the order of the Ministry of Finance of the Russian Federation No. 217n), with amendments, enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of June 27, 2016 No. 98n "About introduction of documents of International accounting standards in action in the territory of the Russian Federation and about recognition voided some orders of the Ministry of Finance of the Russian Federation", the registered Ministry of Justice of the Russian Federation on July 15, 2016 No. 42869 (further - the order of the Ministry of Finance of the Russian Federation No. 98n), the order of the Ministry of Finance of the Russian Federation of July 11, 2016 No. 111n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on August 1, 2016 No. 43044 (further - the order of the Ministry of Finance of the Russian Federation No. 111n), the order of the Ministry of Finance of the Russian Federation of June 4, 2018 No. 125n "About introduction of the document of International accounting standards in action in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on June 21, 2018 No. 51396 (further - the order of the Ministry of Finance of the Russian Federation No. 125n, the order of the Ministry of Finance of the Russian Federation of December 14, 2020 No. 304n "About introduction of the document of International accounting standards "Amendments to IFRS (IFRS) 17 "Insurance contracts" in action in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on January 19, 2021 No. 62135 (further - IFRS (IAS) 32).

Compound financial instruments the professional participant shall turn on in calculation of size of fixed capital in the size attributable to equity according to the procedure, stipulated in Item 32 IFRS (IAS) 32.

2.3. The professional participant shall calculate the size of the supplementary capital of the professional participant as the amount of sizes of the indicators provided by subitems 2.3.1 - 2.3.7 these Items, reduced by the size of indicators, the stipulated in Item 2.5 presents of the Instruction, with observance of the requirement, the stipulated in Item 2.6 presents of the Instruction.

The professional participant shall include sizes of the following indicators in calculation of size of the supplementary capital.

2.3.1. The authorized capital of the professional participant constituted from nominal value of the preferred shares acquired by shareholders which are not relating to cumulative, the size of dividends by which is not determined by the charter if the professional participant is created in form of business of joint-stock company.

The size of this subitem of the authorized capital specified in paragraph one the professional participant shall take into consideration sizes of the supplementary capital of the professional participant in case the professional participant does not make the decision on dividend payout.

2.3.2. Part of the authorized capital of the professional participant created at the expense of increase in value of fixed assets in case of their revaluation before disposal of fixed assets.

2.3.3. The reserve fund of the professional participant created according to Item 1 of article 35 of the Federal Law of December 26, 1995 No. 208-FZ "About joint-stock companies" (The Russian Federation Code, 1996, No. 1, Art. 1; 2018, No. 18, the Art. 2557) if the professional participant is created in form of business of joint-stock company.

The reserve fund of the specified professional participant created by profit of the current year the professional participant shall take into consideration sizes of the supplementary capital based on data of the accounting (financial) records of the professional participant containing data on the specified reserve fund if the professional participant has audit opinion concerning the specified reporting.

The reserve fund of the specified professional participant created by profit of prior years the professional participant shall take into consideration sizes of the supplementary capital based on data of the annual accounting (financial) accounts of the professional participant containing data on the specified reserve fund if the professional participant has audit opinion concerning the specified reporting.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.