Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

The document ceased to be valid since August 2, 2016 according to item 4 of the Instruction of the Central bank of the Russian Federation of June 27, 2016 No. 4052-U

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of June 10, 2016 No. 4038-U

About mandatory reserve requirements

1. 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 June 10, 2016 No. 15) mandatory reserve requirements (standard rates of required reserves, coefficient of averaging of required reserves) for the credit institutions performing deposition of required reserves according to the Provision of the Bank of Russia of December 1, 2015 No. 507-P "About required reserves of credit institutions", the registered Ministry of Justice of the Russian Federation on December 25, 2015 No. 40275 ("the Bulletin of the Bank of Russia" of December 30, 2015 No. 121), since July 1, 2016 are established in the following size.

1.1. Standard rates of required reserves:

according to obligations to legal entities - nonresidents in currency of the Russian Federation - percent 4,25;

according to obligations to legal entities - nonresidents in foreign currency - percent 6,25;

according to obligations to physical persons in currency of the Russian Federation - percent 4,25;

according to obligations to physical persons in foreign currency - percent 5,25;

according to other obligations of credit institutions in currency of the Russian Federation - percent 4,25;

according to other obligations of credit institutions in foreign currency - percent 6,25.

1.2. The coefficient of averaging of required reserves applied to calculation of average size of required reserves does not change and makes:

for banks - 0,8;

for non-bank credit institutions - 1,0.

The credit institutions specified in this subitem, having the right to expect the average size of required reserves each next period of averaging using coefficient of the averaging which is not exceeding 0,8 and 1,0, respectively.

2. This Instruction is subject to official publication and becomes effective since July 1, 2016.

3. The standard rates of required reserves specified in subitem 1.1 of Item of 1 this Instruction are applied since regulation of the size of required reserves of credit institutions for the accounting period from July 1 to August 1, 2016.

4. Since July 2, 2016 to declare invalid the Instruction of the Bank of Russia of March 9, 2016 No. 3978-U "About mandatory reserve requirements" ("the Bulletin of the Bank of Russia" of March 16, 2016 No. 26).

When carrying out regulation of the size of required reserves of credit institutions for the accounting period the standard rates of required reserves specified in subitem 1.1 of Item 1 of the Instruction of the Bank of Russia of March 9, 2016 to No. 3978-U "About mandatory reserve requirements" are applied from June 1 to July 1, 2016.

Chairman of the Central bank of the Russian Federation

E. S. Nabiullina

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.