Bank of Russia decides to temporarily cut volume of reporting published by credit institutions

The Bank of Russia made a decision to temporarily reduce the volume of reporting disclosed by credit institutions on their websites, and also on the Bank of Russia website. This will limit credit institutions’ risks associated with the sanctions imposed by Western countries.

Starting from the February 2022 reporting, banks are not obliged to publish their accounting (financial) statements (individual and consolidated) compiled according to Russian standards, as well as additionally disclosed information. 

Moreover, credit institutions will continue to submit these statements to the Bank of Russia, which will enable an overall and effective supervision of their activities, as well as the sectoral analysis. Banks will also be able, if necessary, to disclose reporting to their counterparties as part of usual business processes.