Aggregated News From Investment Management Regulators

Bank of Russia facilitates the procedure for obtaining status of settlement non-bank credit institution

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The draft Bank of Russia Instruction stipulates that for settlement non-bank credit institutions (SNCIs), operations previously conducted in the status of a bank shall be excluded from the calculation of required ratios. Thus, SNCIs will be able to finalise these operations without violating current requirements.

Also, business activities of all SNCIs (to a reasonable extent) will be exempt from the ban on conducting non-core operations.

See PDF here: https://www.cbr.ru/StaticHtml/File/41186/210204-41-1.pdf

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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