The Central Bank extended the restriction on information disclosure for banks until 2023

The Bank of Russia allowed credit institutions not to publish certain information on publicly available resources until January 1, 2023, reported in the press service of the regulator. In particular, banks may not disclose financial statements and their individual elements. This is done in order to minimize the impact of current and potential sanctions on banks, their customers and counterparties.

In 2023, a phased disclosure of financial statements of credit institutions will become possible. However, information and reporting on ownership structures, the composition of management bodies and the list of controlling persons will still not be published.

“It is assumed that at the first stage information will be disclosed to a limited extent, while on its basis, customers and the market will be able to assess the financial position of banks,” the Central Bank said. Now the regulator is working on a policy regarding the rules for reporting disclosure, until the end of the year it will not provide the final statistics of banks.

In April 2022, the Board of Directors of the Bank of Russia allowed banks not to publish statements with information on risks and capital in the period from December 31, 2021 to October 1, 2022 inclusive.

Natalia Semenova