Bank of Russia to introduce new ratios for banks to limit cryptocurrency investment risks
Credit institutions will be required to comply with the ratios intended to limit risks associated with investment in cryptocurrencies and foreign digital instruments. The Bank of Russia has released the relevant draft regulation to assess its regulatory effect.
The ratios take into account not only direct investments in such assets, but also investments in cryptocurrency derivatives. If assets involve low freezing and liquidity risks, the regulation allows the netting of short and long positions. The calculation of the new ratios will not include clients’ positions, which banks are not responsible for in case of the materialisation of sanctions risk.
The upper limit of the risk ratios for transactions with cryptocurrencies and foreign digital instruments (N31 at the solo level and N32 at the consolidated level) will equal 1%.
The regulator plans to require credit institutions to record the turnover for such instruments, along with N31 and N32 values, in their reporting starting from January 2027. The relevant reporting forms are currently being developed. The new requirements will become effective 10 days after the official publication of the regulation (scheduled for 2026 Q4).