INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of January 10, 2024 No. 213-I

About open line items of credit institutions on currency risk

This Instruction based on Article part one 56, Item 7 parts one of Article 62, Articles 68, parts one of Article 72 and part thirteen of article 74 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" 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 December 22, 2023 No. PSD-49) establish accounting treatment for open line items of credit institutions on currency risk, the sizes of open line items of credit institutions on currency risk, and also procedure the Bank of Russia of supervision of their observance.

Chapter 1. General provisions

1.1. The credit institution, except for the non-bank credit institution having the right to implementation of money transfers without opening of bank accounts and the related other banking activities, credit institution which is given the status of the central depositary, and non-bank credit institution - the central partner (further - credit institution) shall perform accounting of open line items on risk of origin at credit institution of financial losses (losses) owing to change of the foreign exchange rates and (or) the prices of precious metals (further - currency risk) by calculation of open line items for currency risk (further - OVP) according to Chapter 2 of this Instruction.

The credit institution shall observe the OVP sizes established for restriction (limitation) of currency risk of credit institution (further - the sizes (limits) of OVP), on the basis of OVP calculated according to Items 2.3 - 2.11 these Instructions.

1.2. The credit institution shall include in calculation of OVP the assets and liabilities including nominated in rubles (including assets and liabilities on the forward transactions named in Item 2.7 of this Instruction (further - forward transactions) which cost changes in case of change of the foreign exchange rates and (or) the prices of precious metals (further respectively - variability to the foreign exchange rates and (or) the prices of precious metals, currency assets and liabilities).

For the purpose of calculation of OVP asset cost or obligations is the size reflected in one or several balance sheet accounts of the Chart of accounts of financial accounting for credit institutions (further - book value) according to the Provision of the Bank of Russia of November 24, 2022 No. 809-P "About the Chart of accounts of financial accounting for credit institutions and procedure for its application" <1>.

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<1> It is registered by the Ministry of Justice of the Russian Federation on December 29, 2022, registration No. 71867, with the changes made by Instructions of the Bank of Russia of March 23, 2023 No. 6380-U (it is registered by the Ministry of Justice of the Russian Federation on April 24, 2023, registration No. 73130), of January 10, 2024 No. 6666-U (it is registered by the Ministry of Justice of the Russian Federation on January 29, 2024, registration No. 77022).

The credit institution shall include currency assets and liabilities in calculation of OVP from the date of the conclusion of agreements (transactions) based on which reflection of such assets and liabilities on accounts of financial accounting is performed.

1.3. In case of classification of assets and liabilities as currency assets and liabilities according to Item 1.2 of this Instruction, and also in case of inclusion of currency assets and liabilities in calculation of OVP the credit institution shall be guided by the calculation principles of obligatory standard rates provided by paragraph one of Item 1.3 of the Instruction of the Bank of Russia of November 29, 2019 No. 199-I "About obligatory standard rates and allowances to capital adequacy ratios of banks with the universal license" <2> (further - the Instruction of the Bank of Russia No. 199-I).

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<2> It is registered by the Ministry of Justice of the Russian Federation on December 27, 2019, registration No. 57008, with the changes made by Instructions of the Bank of Russia of March 26, 2020 No. 5423-U (it is registered by the Ministry of Justice of the Russian Federation on March 31, 2020, registration No. 57913), of August 3, 2020 No. 5520-U (it is registered by the Ministry of Justice of the Russian Federation on November 3, 2020, registration No. 60730), of August 3, 2020 No. 5521-U (it is registered by the Ministry of Justice of the Russian Federation on September 11, 2020, registration No. 59770), of January 12, 2021 No. 5705-U (it is registered by the Ministry of Justice of the Russian Federation on April 15, 2021, registration No. 63150), of April 20, 2021 No. 5783-U (it is registered by the Ministry of Justice of the Russian Federation on June 11, 2021, registration No. 63866), of August 18, 2021 No. 5886-U (it is registered by the Ministry of Justice of the Russian Federation on September 21, 2021, registration No. 65078), of December 24, 2021 No. 6040-U (it is registered by the Ministry of Justice of the Russian Federation on January 26, 2022, registration No. 67014), of April 3, 2023 No. 6393-U (it is registered by the Ministry of Justice of the Russian Federation on May 29, 2023, registration No. 73538), of April 17, 2023 No. 6412-U (it is registered by the Ministry of Justice of the Russian Federation on May 23, 2023, registration No. 73399), of June 6, 2023 No. 6436-U (it is registered by the Ministry of Justice of the Russian Federation on June 9, 2023, registration No. 73793).

1.4. The credit institution shall include in structure of currency assets and liabilities assets, including participation in affiliated and dependent societies, and obligations which are not currency assets and liabilities according to Item 1.2 of this Instruction (in view of lack of variability to the foreign exchange rates and the prices of precious metals of book value of assets and liabilities), but on which the credit institution will receive financial result in case of change of the foreign exchange rates and (or) the prices of precious metals, including in case of disposal (realization, repayment) of assets and liabilities if such disposal (realization, repayment) is provided by credit institution, including terms of the contract (transaction).

1.5. The credit institution shall exclude from calculation of OVP currency assets and liabilities under the following agreements (transactions) (further - agreements (transactions) excluded from calculation of OVP) which are not changing currency risk of credit institution because of the increased risk of non receipt by credit institution of compensation of losses (losses) which can arise on the available currency assets and (or) obligations in case of change of the foreign exchange rates and (or) the prices of precious metals:

to agreements (transactions) under which the parties of intentions to create corresponding to them economic and consequence in law and (or) the increased risk of cover of actual intents of the parties (further - the increased risk of pritvornost) have the increased risk of absence;

to agreements (transactions) under which there is the increased risk of their non-execution by the partner of credit institution, including in connection with availability of the reasons interfering their execution (further - the increased risk of non-execution).

Availability of the increased risk of pritvornost under the agreement (transaction) is specified by the execution and (or) transfer of providing to credit institution under the agreement (transaction) performed by the partner (third party) one of the following methods:

at the expense of means and (or) other property provided by the most credit institution;

at the expense of means and (or) other property provided by the third parties (including by means of issue of the loan) if the credit institution directly or indirectly (through the third parties) assumed the risks which arose in connection with provision of money (property).

For the purpose of calculation of OVP the credit institution shall analyze agreements (transactions), including forward transactions, regarding availability on them the increased risk of pritvornost or the increased risk of non-execution if assets and liabilities under such agreements (transactions) correspond to criteria of materiality. If other is not provided by this Item, the credit institution determines criteria of materiality on the basis of the determination of materiality established by paragraphs the tenth - the nineteenth Item 7 of the International accounting standard (IAS) 1 "Accounts presentation" <3>, proceeding from nature and amount of the transactions made by credit institution.

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