The Central Bank extended the restriction on information disclosure by credit institutions until January 1, 2023. The regulator announced this on September 16 at its site.
“Credit institutions do not disclose on publicly available resources information about the risks they take, procedures for their assessment, risk and capital management, as well as about financial instruments included in the calculation of the own funds of a credit institution, a banking group, including all conditions and the timing of their issue , redemption, conversion, other transactions with them, and significant changes in these instruments,” the statement says.
Restrictions are introduced according to ch. 13 and 14 st. 8 of the federal law “On banks and banking activities”. They must be valid throughout the fourth quarter and the second half of 2022, including for intra-quarter reporting dates.
The Central Bank noted that the restrictions are being extended to minimize the impact of current and potential sanctions on the banks themselves, their clients and counterparties. The regulator called it possible to partially lift restrictions from next year.
For the first time, the Bank of Russia demanded a temporary reduction in the volume of publications of financial statements of credit institutions on March 6. This was done against the backdrop of sanctions imposed on Russian financial institutions.
Western sanctions were imposed after Russia launched a special operation in the Donbass on February 24. A few days earlier, the situation in the region escalated significantly due to shelling by the Ukrainian military. The authorities of the Donetsk and Luhansk republics announced the evacuation of residents to the Russian Federation, and also turned to Moscow for help. On February 21, Russian President Vladimir Putin signed a decree recognizing the independence of the DPR and LPR.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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