Bank of Russia extends limitations on banks’ disclosures until the end of 2022

The Bank of Russia has decided to extend the ban for credit institutions to disclose certain information on publicly available resources by three months — until 1 January 2023. Disclosure by banks of their accounting (financial) statements and their certain components will still be limited.

Also, the regulator will not disclose banks’ statements on its website for another three months.

The limitations were extended to minimise the consequences of the current and potential sanctions for banks, their clients and counterparties.

The Bank of Russia believes that disclosure by credit institutions of their financial statements and information (except their ownership structure, the composition of their management bodies, and the lists of controlling persons) can be introduced from the next year.

It is assumed that, at the first stage, the information will be disclosed to a limited extent, enabling clients and the market to assess the financial situation of banks.

Now, the regulator is working on the level of detail of disclosures and the list of the most sensitive information prohibited for disclosure and will further discuss it with the banking community.

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16.09.2022 18.26.00