Bank of Russia updates procedure for calculating required reserves for settlements on foreign securities blocked by international depositories

The Bank of Russia has decided to update the procedure for forming required reserves for liabilities arising from settlements on foreign securities blocked by international settlement and clearing organisations.

When preparing data on monthly average balances in balance sheet accounts for calculating the amount of required reserves, banks with a universal licence and non-bank credit institutions are entitled not to include balances in personal accounts of balance sheet account No. 47422 ‘Liabilities on other operations’ in reservable liabilities as regards the accounting of liabilities arising from settlements on foreign securities blocked by international settlement and clearing organisations.

This procedure is to be first applied to required reserve amounts for May 2022.

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