Bank of Russia calculates foreign participation in banks’ total authorised capital in compliance with new requirements

For the first time, the Bank of Russia calculated, according to the procedure stipulated by Article 18 of the Federal Law ‘On Banks and Banking Activities’, the amount of participation of foreign capital in the total authorised capital of operating credit institutions, which accounted for 13.44% as of 1 January 2016. The Bank of Russia will calculate and publish this indicator annually.

Article 18 of the Federal Law ‘On Banks and Banking Activities’ was amended by Federal Law No. 372-FZ, dated 14 December 2015, and became effective in late 2015 in compliance with the obligations assumed by the Russian Federation while accessing the World Trade Organisation.