INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of September 21, 2021 No. 5939-U

About modification of separate regulations of the Bank of Russia concerning accomplishment of mandatory reserve requirements by credit institutions

Based on Item 14 of Article 4, articles 38 and 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; 2017, No. 18, Art. 2669; 2018, No. 53, Art. 8440; 2021, No. 9, the Art. 1467), parts 6 of 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 September 21, 2021 No. PSD-22):

1. Make the following changes to regulations of the Bank of Russia.

1.1. Items 7.1 - 7.3 Provisions of the Bank of Russia of January 11, 2021 No. 753-P "About required reserves of credit institutions", No. registered by the Ministry of Justice of the Russian Federation on May 28, 2021 63663, to state in the following edition:

"7.1. This Provision is subject to official publication and becomes effective since April 1, 2022.

7.2. This Provision is applied since regulation of the size of required reserves of credit institution for April, 2022.

7.3. Deposition of required reserves by credit institutions in the Bank of Russia, including procedure of payments of the size of required reserves for March, 2022, is performed according to the procedure, acting before entry into force of this provision.

The averaging period corresponding to the accounting period - to April, 2022, is established according to the schedule of the periods of averaging for 2022.".

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