Bank of Russia specifies procedure for forming required reserves in special type K accounts

The Bank of Russia decided to specify the procedure for forming required reserves in special type K accounts when an authorised bank pays for natural gas supplied in accordance with Executive Order of the President of the Russian Federation No. 172¹.

When compiling data on the average monthly balances of balance-sheet accounts for calculating the amount of required reserves, an authorised bank shall be entitled not to include in reservable liabilities personal account balances of balance-sheet account No. 40807 Non-resident legal entities for recording liabilities in special ruble type K accounts and special foreign currency type K accounts opened with an authorised bank for foreign buyers of natural gas.

This procedure is applicable starting from the regulation of the amount of required reserves for May 2022.

The reference to the Press Service is mandatory if you intend to use this material.