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INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of February 21, 2023 No. 6366-U

About mandatory reserve requirements

1. Based on parts one, third and fifth article 38 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, the Art. 2669) 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 February 10, 2023 mandatory reserve requirements (standard rates of required reserves, coefficients of averaging of required reserves) for the credit institutions performing deposition of required reserves according to the Provision of the Bank of Russia of January 11, 2021 No. 753-P "About required reserves of credit institutions" the registered Ministry of Justice of the Russian Federation on May 28, 2021 No. 63663, on September 23, 2021 No. 65105, on March 14, 2022 No. 67723, since March 1, 2023 are established No. PSD-5) in the following size.

1.1. For banks with the universal license:

1.1.1. standard rates of required reserves:

according to obligations to legal entities - nonresidents (including obligations to nonresident banks), and also to obligations to individual entrepreneurs - nonresidents, arising based on the signed agreements of the bank (correspondent) account, contracts for attraction of money (further - obligations to legal entities - nonresidents), in currency of the Russian Federation - percent 4,00;

according to obligations to legal entities - nonresidents in foreign currency - percent 7,00;

according to the obligations to physical persons (residents and nonresidents) arising based on the signed bank deposit agreements (including certified by savings certificates), the bank account (further - obligations to physical persons), in currency of the Russian Federation - percent 4,00;

according to obligations to physical persons in foreign currency - percent 7,00;

according to the obligations which are not belonging to the categories of obligations established by paragraphs the second - the fifth this subitem (further - other obligations), in currency of the Russian Federation - percent 4,00;

according to other obligations in foreign currency - percent 7,00;

1.1.2. the coefficient of averaging of required reserves applied to calculation of average size of required reserves - 0,9.

1.2. For banks with the basic license:

1.2.1. standard rates of required reserves:

according to obligations to legal entities - nonresidents in currency of the Russian Federation - percent 1,00;

according to obligations to legal entities - nonresidents in foreign currency - percent 7,00;

according to obligations to physical persons in currency of the Russian Federation - percent 1,00;

according to obligations to physical persons in foreign currency - percent 7,00;

according to other obligations in currency of the Russian Federation - percent 1,00;

according to other obligations in foreign currency - percent 7,00;

1.2.2. the coefficient of averaging of required reserves applied to calculation of average size of required reserves - 0,9.

1.3. For non-bank credit institutions:

1.3.1. standard rates of required reserves:

according to obligations to legal entities - nonresidents in currency of the Russian Federation - percent 4,00;

according to obligations to legal entities - nonresidents in foreign currency - percent 7,00;

according to obligations to physical persons in currency of the Russian Federation - percent 4,00;

according to obligations to physical persons in foreign currency - percent 7,00;

according to other obligations in currency of the Russian Federation - percent 4,00;

according to other obligations in foreign currency - percent 7,00;

1.3.2. the coefficient of averaging of required reserves applied to calculation of average size of required reserves - 1,0.

2. This Instruction is subject to official publication and becomes effective since March 1, 2023.

3. The standard rates of required reserves established in subitems 1.1. 1, 1.2.1 and 1.3.1 Item of 1 this Instruction, are applied since regulation of the size of required reserves of credit institutions for March, 2023.

The averaging coefficients established in subitems 1.1. 2, 1.2.2 and 1.3.2 Items of 1 this Instruction, are applied when carrying out regulation of the size of required reserves with recalculation on the required reserves deposited on the account on accounting of required reserves since the averaging period from April 12, 2023 to May 16, 2023.

4. From the date of entry into force of this Instruction to declare invalid the Instruction of the Bank of Russia of July 27, 2022 No. 6208-U "About mandatory reserve requirements".

When carrying out regulation of the size of required reserves of credit institutions for February, 2023 the standard rates of required reserves and coefficients of averaging of required reserves established in subitems 1.1 - 1.3 Items 1 of the Instruction of the Bank of Russia of July 27, 2022 No. 6208-U "About mandatory reserve requirements" are applied.

Chairman of the Central bank of the Russian Federation

E. S. Nabiullina

 

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