Category: Russian Finance

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Financial news: Schedule for reporting in XBRL format in accordance with taxonomy versions 5.2.1.0, 5.3.1.0, 6.3.1.0, 7.3.1.0 (for data exchange with federal executive authorities and other persons).

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Market

Supervisory statistical reporting (SSR)

Accounting (financial) statements (AFS)

Cash Transaction Report (Bank of Russia Instruction No. 6054-U of 10.01.2022, taking into account Bank of Russia Instruction No. 6247-U of 21.09.2022)

Annual consolidated financial statements together with a cover letter (Bank of Russia Instruction dated July 20, 2020 No. 5510-U)**

The last reporting date on which reports on Taxonomy 4.2 must be submitted to the Bank of Russia

The last reporting date on which reports on Taxonomy 4.3 must be submitted to the Bank of Russia

The reporting date from which reports must be submitted to the Bank of Russia using Taxonomy 5.2 (updated version from 23.12.2022)

The reporting date as of which it is necessary to submit reports to the Bank of Russia in Taxonomy 4.2

The last reporting date on which reports on Taxonomy 4.3 must be submitted to the Bank of Russia

The reporting date from which reports must be submitted to the Bank of Russia using Taxonomy 5.2 (updated version from 23.12.2022)

The last reporting period for which reports on Taxonomy 4.2 must be submitted to the Bank of Russia

The reporting period starting from which it is necessary to submit reports to the Bank of Russia in Taxonomy 5.2

The last reporting date on which reports on Taxonomy 4.2 must be submitted to the Bank of Russia

The reporting date from which it is necessary to submit reports to the Bank of Russia in Taxonomy 5.2

Operators of investment platforms, operators of financial platforms, operators of information systems in which digital financial assets are issued, and operators of digital financial asset exchanges

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April 1, 2023

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March 31, 2023

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April 2023*

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Without a court ruling, the Federal Tax Service clarified the new procedure for collecting debts from Russians effective November 1.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How will the Federal Tax Service collect debts from Russians without a court order?

Tax authorities no longer need to obtain a court ruling on individuals' debts – a simplified (automated) procedure for collecting tax arrears has come into effect in Russia. Debt write-off occurs in several steps:

The tax authority that has recorded the arrears sends the citizen a notice—via the taxpayer's account, Gosuslugi, or by mail. Russian citizens have 30 business days to dispute the assessment. If they agree with the debt, no action is required; the amount will be forcibly debited from their accounts within the specified period. If there is a dispute, the taxpayer submits a recalculation request or complaint—either online or by mail. The Federal Tax Service makes a decision on the request within one month; this period may be extended by an additional 30 days. During the review period, the disputed amount will be removed from the Unified Tax System (UTS), allowing the citizen to pay other taxes, and no collection will be carried out.

Based on the appeal, the Federal Tax Service will decide whether to grant the citizen's claim or deny it. If the debt is not recalculated, the taxpayer can file a complaint with a higher-level tax authority.

What are the benefits of writing off tax debts without going to court?

It would seem that the new procedure benefits only tax authorities, as the Federal Tax Service now has more opportunities to collect debts from Russians. However, the simplified debt write-off procedure also has advantages for individuals:

The deadline for filing a complaint against assessed taxes has been increased from 20 (with a court order) to 30 business days; the procedure for assessing and appealing tax arrears has become more transparent; and debtors will no longer have to pay legal fees, which previously increased expenses.

"The interests of debtors will now be protected—automatic debits will be suspended during the proceedings, and the disputed charge will be excluded from the unified account," the Federal Tax Service stated.

Russians will not be able to file a dispute with assessed taxes for all types of payments. For example, it will not be possible to appeal taxes related to business and professional activities, as well as personal income tax declared by the individual (i.e., declared independently).

10:00 04.11.2025

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Taxonomy for Presenting Information on Requests (version 7.1.0.1 for operators, insurance organizations, and the Securities and Exchange Commission) Methodological Recommendations (NO Securities and Exchange Commission)

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The taxonomy for presenting information on requests (version 4.3.0.2) is intended for presenting information to the Bank of Russia, submitted at the request of the Bank of Russia, and is to be used when sending the following information to the Bank of Russia:

Submission of information from credit history bureaus to the Bank of Russia starting from the reporting date of 2022-06-30 (in accordance withThe procedure for preparing and submitting information from credit history bureaus to the Bank of Russia upon request). Submission of information by insurers to the Bank of Russia starting from the reporting date 2022-07-01 (for interperiod reporting dates, i.e. reporting dates other than 31.01, 28.02, 31.03, 30.04, 31.05, 30.06, 31.07, 31.08, 30.09, 31.10, 30.11, 31.12).

Please note that for the purposes of submitting supervisory reports and accounting (financial) reports of credit history bureaus to the Bank of Russia (in accordance with Bank of Russia Instruction No. 5851-U dated 09.07.2021 "On the forms, procedure and deadlines for compiling and submitting reports of credit history bureaus to the Bank of Russia"), the Bank of Russia Final XBRL Taxonomy (version 4.3), published on the official website of the Bank of Russia, should continue to be used.

For the purposes of submitting supervisory and statistical reports of insurers to the Bank of Russia (in accordance with Bank of Russia Instruction No. 5724-U dated 03.02.2021 "On the forms, terms and procedure for compiling and submitting reports of insurers to the Bank of Russia"), the Bank of Russia's Final XBRL Taxonomy (version 4.2), published on the Bank of Russia's official website, should continue to be used.

For the purposes of submitting financial statements of insurers to the Bank of Russia, the Bank of Russia's Final XBRL Taxonomy (version 4.3), published on the Bank of Russia's official website, should continue to be used.

Accompanying documents for the module

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Methodological recommendations

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Order to revoke the license of Drive Click Bank LLC.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Collection of cash, bills of exchange, payment and settlement documents and cash services for individuals and legal entities.

Purchase and sale of foreign currency in cash and non-cash forms.

Carrying out money transfers without opening bank accounts, including electronic money (except for postal money orders).

Carrying out transfers of funds on behalf of individuals and legal entities, including correspondent banks, through their bank accounts.

Opening and maintaining bank accounts for individuals and legal entities.

Attracting funds from individuals and legal entities into deposits (on demand and for a specified period).

Placement of funds attracted into deposits (on demand and for a specified period) of individuals and legal entities on their own behalf and at their own expense.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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The victim's friends are involved in the scam – the scammers have perfected the scheme

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How have scammers modernized their scheme to extort money from Russians?

This sophisticated scam, like most others, relies on social engineering, whereby the victim is misled and forced to transfer money to the scammers. The scheme involves several stages:

The scammer contacts the victim, posing as an employee of a bank, law enforcement agency, the State Services portal, investment platforms, etc. The victim is offered the chance to "save money" from theft or increase their capital—the cover story can vary. To implement the plan, the victim must transfer their savings to an acquaintance, friend, or relative—ideally, if the two people have previously conducted banking transactions. The acquaintance will then personally transfer the funds to the scammers, without attracting the attention of the bank's security services.

IN T-bank Reports indicate that the number of cases of fraud using victims' friends has increased by 60%. A complex chain of stolen funds helps fraudsters bypass credit institutions' anti-fraud systems.

What should bank clients do to avoid becoming victims of fraud?

Financial security and literacy are talked about literally everywhere – representatives banksThe media, law enforcement agencies, and independent experts are warning Russians about the risks of fraud. However, no preventative measures have yet produced the desired results—people of all ages, social status, and education are falling for scammers. To avoid becoming a victim, experts urge:

Avoid entering payment information on dubious websites; use a separate card with a minimum balance for online purchases; filter calls using software to immediately see who is calling from an unknown number; do not disclose personal information to third parties or share codes from SMS; if you receive a call "from the bank's security service," contact the organization using the official number or visit a branch in person.

"It's important to monitor the payment transactions of children and elderly relatives—these individuals are at the highest risk. It's advisable to enable transaction notifications on your phone and set acceptable spending limits," the expert recommends.

Cyberpolice urges Russians to critically evaluate offers of high incomes, as scammers often disguise themselves as investment platforms. These scams may involve famous people (actors, athletes, politicians), as well as the victims' relatives.

12:00 10/28/2025

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Tariffs for RKO services for legal entities and individual entrepreneurs at JSC Solid Bank will change from October 31, 2025.

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Dear customers!

From October 31, 2025, Tariffs for RKO for legal entities and individual entrepreneurs at JSC Solid Bank will change.

The changes will affect cash settlement services in foreign currency.

2. Settlement and cash services in foreign currency
Item No. Name of service Rate Collection procedure Note
2.1.2.3. Account management in EURO and Japanese Yen 0.2% of the balance at the end of the business day Every day, after 7 days from the date of crediting funds to the client's account provided that the balance of funds at the end of the business day exceeds 5,000 units of the relevant currency

Current tariff collections are posted in the sectionhttp://solidbank.ru/rates/ 

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial news: Establishment of a joint-stock company (RNKO). A boxed solution.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

1. Study the necessary federal laws and regulations.

2. Check the compliance of candidates for the position of managers and other persons of the organization being created with the established qualification requirements and/or business reputation requirements.

The list of persons is specified in Article 11.1 of the Law on Banks and Article 60 of the Federal Law of 10.07.2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”.

The qualification requirements and requirements for the business reputation of these persons are established by Article 16 of the Law on Banks.

To perform the check, we recommend using:

3. Collect documents to assess the financial position of the founders of the NPO and other persons provided for by the Law on Banks.

The procedure and criteria for assessing the financial position, as well as the requirements for the financial position are established By the Regulation of the Bank of Russia dated 28.12.2017 No. 626-P.

4. Select a unique name for the non-bank credit institution being created.

Requirements for the name are established by Articles 54 and 1473 of the Civil Code of the Russian Federation, Article 7 of the Law on Banks and Bank of Russia Instruction dated 02.04.2010 No. 135-I.

To check the names already in use, we recommend using the State Register of Legal Entities of the KO and the Unified State Register of Legal Entities (USRLE).

Before making a decision to establish a non-profit organization, founders must submit a request to the Bank of Russia regarding the possibility of using the proposed full corporate name and abbreviated corporate name of the credit institution (in Russian).

5. Pay the state fee for obtaining a license to carry out banking operations.

For the issuance of a license to carry out banking operations, a state fee is paid in accordance with subparagraph 93 of paragraph 1 of Article 333.33 of the Tax Code of the Russian Federation.

The amount of the state duty is 0.1% of the declared authorized capital of the established credit institution, but not more than 500 thousand rubles.

Payment order designer.

6. Prepare and submit to the Bank of Russia a set of documents for state registration of a non-profit organization.

A set of documents for state registration can be sent to the Bank of Russia via personal account, as well as by mail or courier to the Bank of Russia’s dispatch office.

To create a non-banking credit institution in the form of a limited liability company, a “set of standardized documents".

7. Receive notification of the entry of information about the non-bank credit institution into the Unified State Register of Legal Entities and a registration certificate from the Bank of Russia.

After making a decision on the state registration of a non-profit organization, the Bank of Russia sends to the authorized registration body the information and documents necessary for it to carry out its functions in maintaining the Unified State Register of Legal Entities.

Based on the decision taken by the Bank of Russia and the information and documents submitted by it, the authorized registration body, within a period of no more than five working days from the date of receipt of such documents, makes a corresponding entry in the Unified State Register of Legal Entities and, no later than the working day following the date of making such entry, notifies the Bank of Russia thereof.

No later than three business days from the date of receipt from the authorized registration authority of the entry of a non-profit organization's state registration record in the Unified State Register of Legal Entities (USRLE), the Bank of Russia notifies its founders and requests payment of 100% of the organization's declared authorized capital within one month. The regulator also issues the founders a document confirming the entry of the organization in the Unified State Register of Legal Entities (USRLE) and a Bank of Russia registration certificate, assigns the non-profit organization a Bank of Russia registration number, and enters its information into the State Register of Legal Entities (KGRKO).

8. Pay the authorized capital and obtain a license to carry out banking operations.

Upon presentation of documents confirming payment of 100% of the declared authorized capital of the NPO, the Bank of Russia issues it a license to carry out banking operations within three days.

Information about an NPO after its creation and issuance of a license is posted inDirectory of financial organizations on the official website of the Bank of Russia.

The notice of state registration of a credit institution is published inBank of Russia Bulletin.

A non-bank credit institution has the right to carry out operations from the moment it receives a license issued by the Bank of Russia.

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Register of credit institutions recognized by the Bank of Russia as significant in the payment services market

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

Published in accordance with Federal Law No. 161-FZ of June 27, 2011, "On the National Payment System" and Bank of Russia Instruction No. 5379-U of December 26, 2019, "On the registration by the Bank of Russia of organizations as payment system operators, the inclusion of foreign organizations that are operators of foreign payment systems in the register of operators of foreign payment systems, and the procedure for maintaining the register of payment system operators and the register of operators of foreign payment systems," registered by the Ministry of Justice of the Russian Federation on March 31, 2020, No. 57916. More Collapse –

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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They won't be left without profit – smart contracts will help banks make money on the digital ruble.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

How will banks make money on the digital ruble?

Smart contracts are algorithms that execute preset operations with the digital ruble, such as transferring funds step by step in real estate transactions. Transactions are automated, and administration and control costs are reduced. The Central Bank of the Russian Federation plans to allow banks to profit from the digital ruble—commercial institutions will be granted the right to create smart contracts and publish them.

"There's been increased interest from banks in the digital ruble—major companies are already proposing their ideas, and smart contracts will be an interesting case for them," the Central Bank stated.

The regulator promises to publish the concept in early 2026. The development is being conducted in dialogue with banks, and their interests will be taken into account. Smart contracts will be implemented similarly to app stores: those interested in using the required algorithms will begin paying a fee to the developers.

When will the implementation of the digital ruble in Russia be completed?

The large-scale implementation of digital currency in Russia has been repeatedly postponed; the project is currently still in the testing phase with individuals and businesses. The plan is to introduce the electronic ruble gradually:

By September of next year, banks and large companies with annual revenues of ₽120 million or more will be able to access the digital currency; by September 2027, organizations with a turnover of ₽30 million or more will be able to do so; by September 2028, all organizations will accept the digital currency.

Prominent figures are being recruited to test the electronic payment method. For example, Central Bank employees, including Elvira Nabiullina, are expected to be test subjects; her team will be paid in digital rubles. The new payment method will be most useful in the public sector, where maximum transparency in handling budget funds is essential.

09:30 10/21/2025

Source:

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Financial News: Informational Message on End of Support for the XBRL Questionnaire Editor Software

Translation. Region: Russian Federation –

Source: Central Bank of Russia

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We inform you that technical support and further development of the XBRL Questionnaire Editor software will cease on September 30, 2026.

From the specified date:

New versions of the XBRL Questionnaire Editor software will not be published; updates, bug fixes, and support for this product will not be provided.

For compiling and verifying reports and other information in XBRL format, we recommend switching to the Converter software, which will continue to receive technical support and further development. The Converter software offers comparable functionality.

You can download the latest version of the Converter software, view the documentation and the training video atsection Software that implements the conversion of reporting data is the "Converter" software.

Questions regarding the operation of the Converter software should be sent to the address svch_sbrlnelp@kbr.ru in accordance withProcedure for applying users on issues related to the preparation and presentation of reports in XBRL format.

Any questions regarding the operation of the XBRL Questionnaire Editor software should be sent to svch_sbrlnelp@kbr.ru with the following mandatory conditions:

The subject of the email must indicate "Using the XBRL Questionnaire-Editor software" and the financial market sector to which the organization generating the request belongs. The email with the request must contain contact details indicating the organization, phone number, email address and responsible person, as well as the following information: Version of the XBRL Questionnaire-Editor software. Versions of other software samples mentioned in the error description. Description of the error. Step-by-step description of the actions to reproduce the error. Expected result. Actual result. Screenshots and graphical explanations of the described problem in the *.jpg, *.png, *.bmp formats. Materials used to reproduce the error, as attachments to the email: downloadable XBRL file; downloadable CSV file; downloadable txt file; generated XBRL file; generated reporting package in XBRL format; verification log; data download log in the appropriate format (CSV, XLSX or XBRL); reporting package with the *.ank extension; Excel templates for automatic data loading or unloading. The application.log file can be downloaded from the Help/About section. Frequency of occurrence of the problem. Problem severity. XBRL taxonomy version. XBRL taxonomy entry point. Name of the table in which the problem occurs. System configuration: operating system, including the operating system bit depth; amount of RAM; processor model with clock speed.

Responsible structural unit: Department of Data, Projects and Processes

Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.