05.07.2022 18:55 / TASS
The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.
05.07.2022 18:51 / TASS
The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.
05.07.2022 18:41 / TASS
Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.
17.05.2022 16:18 / TASS
Central Bank to launch cybersecurity education course The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.
19.04.2022 16:49 / The Bank of Russia
Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.
15.04.2022 16:36 / TASS
The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.
Russian Central Bank eases reserve requirements for banks
02.03.2022 18:01 / TASS
The Central Bank establishes reserves for banks with a universal license and non-bank credit institutions in the amount of 2% - for liabilities to non-resident legal entities, liabilities to individuals and other liabilities in rubles and foreign currencies. For banks with a basic license, reserves of 2% are also set for liabilities to non-resident legal entities in rubles, as well as liabilities to non-resident legal entities, liabilities to individuals and other liabilities in foreign currency.
The new norms will be applied starting from the regulation of the amount of required reserves for February 2022.
The regulator noted that the implementation of this measure will lead to a decrease in the total amount of required reserves of credit institutions by about 2.7 trillion rubles, of which about 0.7 trillion rubles. - reduction of required reserves in the accounts for their accounting and about 2 trillion rubles. - reduction of averaged required reserves.
At the same time, the required reserves averaging ratio for banks with a universal license and banks with a basic license is set at 0.9, starting from the averaging period from March 9 to April 12, 2022.
At the same time, for the required reserve averaging period from February 9 to March 8, 2022, the Bank of Russia will not apply a penalty to credit institutions that have failed to comply with the required reserve averaging if the amount of the failure to comply with the required reserve averaging does not exceed 20% of the established amount subject to maintaining on correspondent accounts in the specified period, the regulator said.