Bank of Russia allows use of personal accounts for e-document exchange as part of financial market admission procedures

In order to develop electronic document workflow, the Bank of Russia has granted permission to entities seeking to obtain the status of a financial institution¹ to use personal accounts² for electronic document exchange since 1 October 2019.

Should an entity seeking to obtain the status of a financial institution fail to have a personal account, such an entity may file an application for the creation of a personal account through the Bank of Russia website (section Personal account).

¹ Financial institutions are credit institutions and non-bank financial institutions which perform the activities indicated in Article 76.1 of Federal Law No. 86-FZ, dated 10 July 2002, ‘On the Central Bank of the Russian Federation (Bank of Russia)’, including payment system operators, foreign payment system operators, commodity delivery operators and information agencies.

² In accordance with Bank of Russia Ordinance No. 4600-U, dated 3 November 2017, ‘On the Procedure for the Bank of Russia to Interact with Credit Institutions, Non-bank Financial Institutions and Other Parties to Information Exchange via Bank of Russia Information Resources, Including Personal Accounts’.

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