Bank of Russia changes procedure and timeframe for compiling and submitting reports and other data by financial institutions in 2020

Within the consistent practice of the regulatory easing due to the spread of the novel coronavirus infection (COVID-19), on 5 June 2020 the Bank of Russia’s Board of Directors approved the decision on establishing the procedure and timeframe for compiling and submitting statements, as well as other information required by federal laws by credit and non-bank financial institutions in 2020, that exceed the deadlines for compiling and submitting respective reports and information provided for by Bank of Russia regulations.

This decision was made in compliance with Part 8, Article 12 of Federal Law No. 115-FZ, dated 7 April 2020, ‘On Amending Certain Laws of the Russian Federation for Unifying the Content of Annual Reports of State Corporations (Companies) and Public Non-Profit Companies, and for Establishing the Specifics of Regulation of Corporate Relations in 2020, and on Suspending Provisions of Certain Laws of the Russian Federation’.

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11.06.2020 00.00.00