INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of April 14, 2025 No. 7044-U

About procedure for reflection on accounts of financial accounting by credit institutions of separate assets in precious metals in the conditions of action of measures of restrictive nature

This Instruction based on part one of article 57 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)", parts 6 of article 21 of the Federal Law of December 6, 2011 No. 402-FZ "About financial accounting" 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 April 4, 2025 No. PSD-11) establish procedure for reflection on accounts of financial accounting by credit institutions of separate assets in precious metals 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. Credit institutions reflect in financial accounting assets in precious metals with which because 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 (further - measures of restrictive nature), making of transactions or transactions is limited (further - the blocked assets in precious metals), in the same balance sheet accounts of the second procedure for the Chart of accounts of financial accounting for credit institutions and procedure for its application provided by appendix 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> on which similar assets in precious metals are considered, concerning which measures of restrictive nature are not entered.

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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), of September 2, 2024 No. 6833-U (it is registered by the Ministry of Justice of the Russian Federation on October 3, 2024, registration No. 79687), of November 2, 2024 No. 6921-U (it is registered by the Ministry of Justice of the Russian Federation on December 3, 2024, registration No. 80448).

2. If the credit institution has no methods of compensation of the blocked assets in precious metals, such assets are recognized the non-refundable blocked assets.

3. The non-refundable blocked assets are reflected credit institutions in the following procedure:

3.1. The cost of the non-refundable blocked assets which are registered on the date of entry into force of this Instruction on personal accounts of financial accounting (further - personal accounts) in precious metals, from the effective date this Instruction is transferred to personal accounts in rubles on the book prices on precious metals established by the Bank of Russia according to the paragraph the second Item 5 of article 10 of the Federal Law of March 26, 1998 No. 41-FZ "About precious metals and gemstones" (further - book price on precious metals) on the date of entry into force of this Instruction.

3.2. If measures of restrictive nature are entered after entry into force of this Instruction, the non-refundable blocked assets are reflected in personal accounts in rubles on the book price on precious metals operating for date of their blocking.

3.3. The non-refundable blocked assets recognized in financial accounting after the date of entry into force of this Instruction are reflected in rubles on the book price on precious metals operating for date of their blocking.

4. The non-refundable blocked assets are reflected in financial accounting of credit institutions in rubles without recalculation of their cost in connection with changes of book price on precious metals.

5. This Instruction becomes effective after 10 days after day of its official publication.

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