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The document ceased to be valid since  January 1, 2022 according to the Resolution of Board of National Bank of the Republic of Belarus of April 22, 2021 No. 105

RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of March 21, 2012 No. 124

About approval of the Instruction for financial accounting of banking activities with precious metals and gemstones in banks and the non-bank credit and financial organizations of the Republic of Belarus

(as amended on 23-06-2017)

Based on the paragraph of the twenty second 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 enclosed Instruction for financial accounting of banking activities with precious metals and gemstones in banks and the non-bank credit and financial organizations of the Republic of Belarus.

2. Recognize invalid:

Item 2 of the resolution of the Board of directors of National Bank of the Republic of Belarus of December 1, 2009 No. 416 "About introduction of amendments to resolutions of the Board of directors of National Bank of the Republic of Belarus of December 5, 2008 No. 412 and of March 27, 2009 No. 86" (The national register of legal acts of the Republic of Belarus, 2009, No. 303, 8/21705).

3. This resolution becomes effective since July 1, 2012.

Chairman of the board

N. A. Ermakova

Approved by the Resolution of Board of National Bank of the Republic of Belarus of March 21, 2012 No. 124

The instruction for financial accounting of banking activities with precious metals and gemstones in banks and the non-bank credit and financial organizations of the Republic of Belarus

Chapter 1. General provisions

1. This Instruction determines for banks and the non-bank credit and financial organizations of the Republic of Belarus (further - banks) procedure for reflection in financial accounting of banking activities (further - transactions) with precious metals (bank ingots, measuring ingots, coins) and gemstones (certified by diamonds).

2. For the purposes of this Instruction terms in the values determined by the Instruction for making of banking activities by banks with precious metals, the Instruction for making of banking activities with gemstones in the domestic market of the Republic of Belarus, the Instruction about procedure for opening and account management in precious metals approved by the resolution of Board of National Bank of the Republic of Belarus of April 4, 2006 No. 57 are used (The national register of legal acts of the Republic of Belarus, 2006, No. 70, 8/14306).

3. The precious metals acquired by bank and the client at bank in the form of bank ingots, and also the precious metals revaluated in process of change of book prices according to the accepted accounting policy of bank in the form of measuring ingots and coins (further - the revaluated measuring ingots, the revaluated coins) are accepted to financial accounting on the book price operating for transaction date. Book prices are determined by National Bank of the Republic of Belarus (further - National Bank) based on the prices established according to the procedure, accepted by the London association of the market of precious metals (the prices of LBMA), in the US dollars converted taking into account the official rate of the Belarusian ruble to US dollar established by National Bank and conversion factor of troy ounces into grams and posted on the official site of National Bank on the global computer Internet.

The precious metals acquired by bank in the form of measuring ingots and coins, measuring ingots except for revaluated, the revaluated coins, are accepted to financial accounting at the acquisition price.

The precious metals acquired by the client at bank in the form of measuring ingots and coins, measuring ingots except for revaluated, the revaluated coins, are accepted to financial accounting at the cost of their write-off determined by bank in case of their sale to the client according to part three of Item 12 of this Instruction.

Gemstones are accepted to financial accounting at the acquisition price.

4. In case of discrepancy of date of the conclusion of the transaction of purchase and sale of precious metals and (or) gemstones with date of their receipt (disposal) and (or) with receipt date (transfer) of money of the obligation and requirement, arising between bank and National Bank, banks, banks and their clients, following from this transaction, "Obligations on transactions with precious metals and gemstones" *, 9936 of "The requirement for transactions with precious metals and gemstones" are reflected in financial accounting on receipt of the corresponding off-balance accounts 9935.

______________________________

* Accounts are specified according to the Chart of accounts of financial accounting in banks and the non-bank credit and financial organizations of the Republic of Belarus according to appendix 1 to the resolution of Board of National Bank of the Republic of Belarus of August 29, 2013 to No. 506 "About establishment of the Chart of accounts of financial accounting in banks and the non-bank credit and financial organizations of the Republic of Belarus and approval of the Instruction about procedure for application of the Chart of accounts of financial accounting in banks and the non-bank credit and financial organizations of the Republic of Belarus" (The national legal Internet portal of the Republic of Belarus, 12.10. 2013, 8/27947).

Requirements for receipt of money for the sold precious metals, gemstones and obligations on money transfer for acquired precious metals, gemstones are reflected in the amounts determined by the agreement.

Requirements for receipt of acquired precious metals in the form of bank ingots, the revaluated measuring ingots, the revaluated coins and the obligation on supply of the sold specified precious metals are reflected on book price of precious metal.

Requirements for receipt of acquired precious metals, except for precious metals in the form of bank ingots, the revaluated measuring ingots, the revaluated coins, gemstones, and the obligation on supply of the sold specified precious metals, gemstones are reflected in the amounts determined by the agreement.

Obligations and requirements are written off on expense of these off-balance accounts in case of their execution or the termination of their action.

If date of the conclusion of the transaction of purchase and sale of precious metals and (or) gemstones matches date of their receipt (disposal) and (or) receipt date (transfer) of money, then obligations and requirements of the parties following from this transaction are not reflected in off-balance accounts.

5. The procedure for reflection in financial accounting of calculations between branches (departments) of bank, between bank and its branches (departments) with precious metals and to transactions with gemstones is determined by transactions by banks independently taking into account requirements of the legislation and this Instruction.

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