On Terms and Procedure for Compiling and Presenting Statements of Specialised Depositary to Bank of Russia and Insurer
The Bank of Russia issued Ordinance No.
The Ordinance provides requirements for presenting statements on results of specialised depositary’s monitoring of composition and structure of assets eligible to cover insurer’s insurance reserves and capital in compliance with Russian Law No.
Statements submitted to the Bank of Russia cover the results of monitoring of all insurers with which a specialised depositary has service agreements.
In compliance with the Ordinance, a specialised depositary draws up statements for a calendar month and submits them to the insurer not later than the 10th business day of the month following the reporting period and to the Bank of Russia not later than the 15th business day of the month following the reporting period.
The first reporting period shall be July 2015.
According to the Ordinance, the statements are submitted to the Bank of Russia electronically via the Internet and shall be signed with an enhanced encrypted and certified digital signature of the sole executive body of the specialised depositary in compliance with FFMS of Russia Order No. 10-21/pz-n, dated 25 March 2010.
The electronic document submitted to the Bank of Russia shall be compiled through an electronic questionnaire available on the Bank of Russia website.
The digitally signed statements are also submitted to the insurer electronically and cover the monitoring results for this insurer.
The reference to the Press Service is mandatory if you intend to use this material.
30.06.2015 00.00.00