On Feb. 8, RUS CB proposed procedure for reporting on digital RUB.
RUS CB proposed ord amending regulation 614-P on the forms of information disclosure in financial statements of microfinance organizations, credit consumer cooperatives, agricultural credit consumer cooperatives, housing savings cooperatives, pawnshops and the procedure of grouping accounts in line with financial statements.
Consultation documents are only available on RUS CB website until comment deadline.
The ordinance was prepared in accordance with law 340-FZ amending certain acts of the Russian Federation, which has entered into force on Aug. 1, 2023.
The proposed ord provides for the procedure for financial reporting on the digital RUB.
Effectiveness
Comments and feedback are expected by Feb. 21, 2024 and the ord is expected to enter into force on Jan. 1, 2025.
Nov. 2024 Ord Issued
On Nov. 18, 2024, RUS CB issued ord 6887-U amending regulation 614-P and coming into force on Jan. 1, 2025 and is applicable for 2025 financial reporting period.
Regulators
RUS CB
Entity Types
Bank; CNSM; CU
Reference
PR 11/18/2024; Ord 6887-U, 10/2/2024; CP, 2/8/2024; Reg 614-P, 10/25/2017
