Bank of Russia extends scope of risk information disclosure for banks holding universal licence

Credit institutions (banking groups) will now need to additionally disclose to users information about estimated adjustments to fair value of financial instruments floating in a thin market with low liquidity. Subject to disclosure must also be the lender's global systemic performance indicators along with the geographical breakdown of credit and market risks used to calculate the countercyclical capital buffer. The relevant ordinance has been registered by the Ministry of Justice of the Russian Federation and becomes effective 10 days after its official publication.

Non-bank credit institutions will be obliged to disclose information on risks assumed and their risk management procedures as part of their financial reporting in the same manner as that of banks with a basic licence.