of July 18, 2023 No. 257
About approval of the Instruction for financial accounting of banking activities with precious metals, gemstones
Based on the paragraph of the thirty sixth of Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:
1. Approve the Instruction for financial accounting of banking activities with precious metals, by gemstones it (is applied).
2. This resolution becomes effective since January 1, 2027.
Chairman of the board
P.V.Kallaur
Approved by the Resolution of Board of National Bank of the Republic of Belarus of July 18, 2023 No. 257
1. This Instruction determines for banks and the non-bank credit and financial organizations (further - banks) procedure for reflection in financial accounting of banking activities with precious metals, gemstones.
2. For the purposes of this Instruction the terms below are used in the following values:
other banks - the National Banks served by bank on banking activities with precious metals, gemstones, banks, foreign banks;
clients - the legal entities served by bank on banking activities with precious metals, gemstones (except for other banks), the physical persons, individual entrepreneurs who are residents and nonresidents;
the account on the cash accounting - correspondent account, the current (settlement) bank and other account used when implementing calculations;
financial instruments in precious metals - agreements of the depersonalized metal account, the agreements of deposits (deposits) of precious metals relating to the assets and liabilities determined by bank as financial instruments.
The term "the certified diamond" is used in the value determined by the paragraph the second parts one of Item 2 of the Instruction on procedure for the realization by National Bank of gemstones to physical persons approved by the resolution of Board of National Bank of the Republic of Belarus of October 21, 2019 No. 431.
The terms "inventories", "net possible selling price" and the concept "cost of inventories" are used in the values determined by the International accounting standard (IAS) 2 "Inventories" enacted by the resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of August 19, 2016 No. 657/20.
The terms "precious metals", "weight in ligature", "weight in purity", "coins", "the name of precious metal", "the depersonalized precious metals", "the depersonalized metal account", "ingots", "the account of safe custody of precious metals" are used in the values determined respectively by paragraphs to the fourth, sixth or eleventh, fifteenth, nineteenth part one of Item 2 of the Instruction for making of banking activities by banks with precious metals approved by the resolution of Board of National Bank of the Republic of Belarus of November 10, 2020 No. 352.
The terms "foreign banks", "nonresidents", "residents" are used in the values determined respectively by subitems 1.9-1.11 of Item 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".
The terms "credit loss", "effective interest rate method", "expected credit losses", "provision under losses" and the concept "transaction price" are used in the values determined by the International accounting standard (IFRS) 9 "Financial instruments" enacted by the resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of December 30, 2016 No. 1119/35.
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