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The document ceased to be valid since January 1, 2019 according to the Instruction of the Central bank of the Russian Federation of November 21, 2017 No. 4614-U

About entry into force of the document watch Item 5.2

It is registered

Ministry of Justice

Russian Federation

On February 1, 2016 No. 40910

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of December 28, 2015 No. 525-P

Industry standard of financial accounting of hedging by credit institutions

This provision based on the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, the Art. 4348, No. 41, the Art. 5639) 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, 2015 No. 38) establish procedure for financial accounting of hedging for credit institutions.

Chapter 1. General provisions

1.1. Financial accounting of hedging shall provide reflection in accounting (financial) records of credit institution of results of its activities for risk management providing use for this purpose of hedging instruments.

1.2. The hedging instrument can represent:

the derivative financial instrument determined according to the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 27, Art. 3880; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015, No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001, No. 29, Art. 4348, Art. 4349);

the purchase and sale agreement of foreign currency, precious metals, securities which is not the derivative financial instrument, providing obligation of one party to transfer foreign currency, precious metals, securities to property to other party not earlier than the third working day after day of the conclusion of the agreement and obligation of other party to accept and pay the specified property on which the Provision of the Bank of Russia of July 4, 2011 No. 372-P "On procedure for financial accounting of derivative financial instruments" expatiates, registered by the Ministry of Justice of the Russian Federation on July 22, 2011 No. 21445, on December 6, 2013 No. 30553, on December 18, 2015 No. 40165 ("the Bulletin of the Bank of Russia" of August 4, 2011 No. 43, of December 19, 2013 No. 74, of December 25, 2015 No. 119) (further - the Provision of the Bank of Russia No. 372-P);

the agreement which is recognized the derivative financial instrument according to the right of foreign state, regulations of the international treaty or business customs and concerning which the right of foreign state or regulations of the international treaty provide its judicial protection to which the Provision of the Bank of Russia No. 372-P extends;

non-productive financial asset or the non-productive financial liability (only for hedging of changes of the currency exchange rates), fair value and which cash flow changes of fair value of object of hedging shall compensate.

For the purpose of this provision the determinations of financial asset and the financial liability given in the International accounting standard (IAS) 32 "Financial instruments are applied: submission of information", No. 160n enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of November 25, 2011 "About enforcement of International accounting standards and Explanations of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on December 5, 2011 No. 22501 (The Russian newspaper of December 9, 2011) <1> (further - the order of the Ministry of Finance of the Russian Federation No. 160n).

--------------------------------

<1> With the amendments enacted in the territory of the Russian Federation by orders of the Ministry of Finance of the Russian Federation of July 18, 2012 No. 106n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on August 3, 2012 No. 25095 (The Russian newspaper of August 15, 2012), of October 31, 2012 No. 143n "About enforcement of documents of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on December 12, 2012 No. 26099 (The Russian newspaper of December 21, 2012), of April 2, 2013 No. 36n "About enforcement and cancellation of documents of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on May 27, 2013 No. 28518 (The Russian newspaper of June 5, 2013), of May 7, 2013 No. 50n "About enforcement of the document of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on June 14, 2013 No. 28797 (The Russian newspaper of July 12, 2013), of August 26, 2015 No. 133n "About enforcement and cancellation of International accounting standards in the territory of the Russian Federation", the registered Ministry of Justice of the Russian Federation on September 15, 2015 No. 38889 ("The official Internet portal of legal information" (www.pravo.gov.ru), on September 18, 2015).

1.3. Assets, obligations, agreements (further - the firm agreement which is not reflected in balance sheet accounts), the predicted transactions, net investments in foreign operation which put the company at risk of change of their fair value or the related future cash flow can be object of hedging.

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