On Feb. 15, RUS CB proposed rules concerning securities transactions.
RUS CB proposed amendments regulation 606-Pon the Procedure for Reflecting Securities Transactions in the Accounting Records of Credit Institutions.
Consultation documents are only available on RUS CB website until comment deadline.
Summary
The ord amends reg 606-P to include references to reg 730-P on procedure for bank reserves formation for possible loss via risk management/quantitative risk assessment.
In addition, the ordinance aims to clarify the procedure for reflecting on the accounts of accounting transfer of shares, units from balance sheet accounts for the accounting of equity securities classified as fair value via other comprehensive income.
Effectiveness
Comments and feedback are expected by Feb. 28, 2024.
Jul. 2024 Ordinance Issued
On Jul. 9, 2024, RUS CB issued ordinance 6735-U amending reg 606-P on reflecting securities transactions in accounting records of credit firms, effective Jan. 1, 2025.
