It is registered
Ministry of Justice
Russian Federation
On November 21, 2024 No. 80280
of September 30, 2024 No. 6879-U
About procedure for forming by non-bank credit institutions - the central partners, credit institutions - settlement depositaries of reserves on possible losses according to separate requirements in the conditions of action of measures of restrictive nature
This Instruction based on parts one and the second article 24 of the Federal law "About Banks and Banking Activity" (in edition of the Federal Law of February 3, 1996 No. 17-FZ) 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 25, 2024 No. PSD-31) establish procedure for forming by non-bank credit institutions - the central partners, credit institutions - settlement depositaries of reserves on possible losses according to separate requirements in the conditions of action of the measures of restrictive nature entered by foreign state, national association and (or) the union and (or) the public (interstate) institution of foreign state or national association and (or) union concerning the Russian Federation, citizens of the Russian Federation or the Russian legal entities.
1. Non-bank credit institutions - the central partners (further - the central partners), credit institutions - settlement depositaries (further - settlement depositaries) create reserves on possible losses (further - reserves) according to requirements to the foreign organizations having the right according to their personal law to perform accounting and transition of the rights to securities and (or) to perform the activities similar to activities of the broker, and (or) being foreign banks (further - the foreign financial organizations), or credit institutions on receipt of the money and (or) precious metals including belonging to clients of the central partners, the settlement depositaries enlisted into accounts of the central partners, settlement depositaries in the foreign financial organizations or credit institutions, with which in the conditions of action of the measures of restrictive nature entered by foreign state national association and (or) the union and (or) the public (interstate) institution of foreign state or national association and (or) the union concerning the Russian Federation, citizens of the Russian Federation or the Russian legal entities (further - measures of restrictive nature), limits making of transactions and transactions (further - the blocked requirements), according to the procedure established by this Instruction in case of acceptance by the central partners, settlement depositaries of the decision on application of the specified procedure.
2. In case of acceptance by the central partners, settlement depositaries of the decision specified in Item of 1 this Instruction are not applied to the blocked requirements:
Instruction of the Bank of Russia of June 22, 2005 No. 1584-U "About forming and the size of reserve on possible losses under transactions of credit institutions with residents of offshore zones" <1>;
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<1> It is registered by the Ministry of Justice of the Russian Federation on July 15, 2005, registration No. 6799.
Instruction of the Bank of Russia of November 17, 2011 No. 2732-U "About features of forming by credit institutions of reserve on possible losses on transactions with securities, the rights to which make sure depositaries" <2>;
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<2> It is registered by the Ministry of Justice of the Russian Federation on December 12, 2011, registration No. 22544, with the changes made by Instructions of the Bank of Russia of June 25, 2012 No. 2841-U (it is registered by the Ministry of Justice of the Russian Federation on August 1, 2012, registration No. 25070), of November 25, 2014 No. 3452-U (it is registered by the Ministry of Justice of the Russian Federation on December 11, 2014, registration No. 35134), of December 1, 2015 No. 3868-U (it is registered by the Ministry of Justice of the Russian Federation on December 18, 2015, registration No. 40170), of September 22, 2017 No. 4540-U (it is registered by the Ministry of Justice of the Russian Federation on October 16, 2017, registration No. 48551), of November 27, 2018 No. 4984-U (it is registered by the Ministry of Justice of the Russian Federation on February 7, 2019, registration No. 53707).
Provision of the Bank of Russia of June 28, 2017 No. 590-P "About procedure for forming by credit institutions of reserves on possible losses according to loans, the loan and equated to it debt" <3> (further - the Provision of the Bank of Russia No. 590-P), except for case, stipulated in Item 7 these Instructions;
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<3> It is registered by the Ministry of Justice of the Russian Federation on July 12, 2017, registration No. 47384, with the changes made by Instructions of the Bank of Russia of July 26, 2018 No. 4874-U (it is registered by the Ministry of Justice of the Russian Federation on October 3, 2018, registration No. 52308), of November 27, 2018 No. 4986-U (it is registered by the Ministry of Justice of the Russian Federation on December 19, 2018, registration No. 53053), of December 26, 2018 No. 5043-U (it is registered by the Ministry of Justice of the Russian Federation on January 23, 2019, registration No. 53505), of July 18, 2019 No. 5211-U (it is registered by the Ministry of Justice of the Russian Federation on September 12, 2019, registration No. 55910), of October 16, 2019 No. 5288-U (it is registered by the Ministry of Justice of the Russian Federation on November 27, 2019, registration No. 56646), of January 11, 2021 No. 5690-U (it is registered by the Ministry of Justice of the Russian Federation on April 26, 2021, registration No. 63238), of August 18, 2021 No. 5889-U (it is registered by the Ministry of Justice of the Russian Federation on September 21, 2021, registration No. 65077), of February 15, 2022 No. 6068-U (it is registered by the Ministry of Justice of the Russian Federation on March 24, 2022, registration No. 67894), of March 15, 2023 No. 6377-U (it is registered by the Ministry of Justice of the Russian Federation on April 7, 2023, registration No. 72915).
Provision of the Bank of Russia of October 23, 2017 No. 611-P "About procedure for forming by credit institutions of reserves on possible losses" <4>;
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