INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 14, 2017 No. 4495-U

About modification of the Provision of the Bank of Russia of November 5, 2015 No. 501-P "Industry standard of financial accounting by not credit financial credit institutions of transactions on attraction of money according to loan agreements and credit agreements, transactions on release and repayment (payment) of bonds and bills of exchange"

1. Based on Item 14 of article 4 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348, Art. 4357; No. 41, Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3891; No. 27, Art. 4225, Art. 4273, Art. 4295; 2017, No. 1, Art. 46; No. 14, Art. 1997; No. 18, Art. 2661, Art. 2669; No. 27, Art. 3950; No. 30, the Art. 4456) and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of August 9, 2017 No. 18) to bring in the Provision of the Bank of Russia of November 5, 2015 No. 501-P "Industry standard of financial accounting by not credit financial credit institutions of transactions on attraction of money according to loan agreements and credit agreements, transactions on release and repayment (payment) of bonds and bills of exchange", registered by the Ministry of Justice of the Russian Federation on November 27, 2015 No. 39881, on December 20, 2016 No. 44835, the following changes.

1.1. State Item 1.7 in the following edition:

"1.7. The ESP method can not be applied:

to the financial liabilities estimated at fair value through profit or loss;

to financial liabilities if the difference between the depreciated cost calculated with use of the ESP method, and the depreciated cost calculated with use of straight-line method of recognition of interest expense is not essential. Criteria of materiality affirm as accounting policy of not credit financial credit institution.".

1.2. Add Item 1.9 with the paragraph of the following content:

"The amount of other expenses (costs according to the transaction) according to the financial liabilities estimated at fair value through profit or loss in calculation of ESP does not join and recognized structure of expenses on transactions with the raised funds and issued debt securities one-timely for date of their origin in accordance with the terms of the agreement.".

1.3. Add Item 1.13 with the paragraph of the following content:

"Disaggregation of analytics of financial liabilities shall provide information necessary for not credit financial credit institution for forming of the corresponding indicators of the reporting represented to the Bank of Russia.".

1.4. Third Item 1.17 to declare the paragraph invalid.

1.5. Add Item 1.18 with the paragraph of the following content:

"If the difference between fair value of the financial liability in case of initial recognition and transaction price under the agreement is insignificant, not credit financial credit institution can not reflect the specified difference in financial accounting.".

1.6. Add Item 1.19 with the paragraph of the following content:

"Not credit financial credit institution can not include in calculation of ESP and not amortize other expenses (costs according to the transaction) which are not essential. In this case other expenses (costs according to the transaction) are recognized structure of commission expenses one-timely for date of their origin in accordance with the terms of the agreement.".

1.7. In subitem 2.5.3 of Item 2.5:

word in paragraph three "the subsection "On Transactions with Issued Debt Securities" shall be replaced with words "the subsections "On the Credits Obtained From", "On the Funds (except the Credits) Raised from", "On the Raised Funds of Physical Persons";

word in paragraph seven "the subsection "Income from Transactions according to Issued Debt Securities" shall be replaced with words "the subsections "Income From Transactions with the Obtained Credits", "Income from Transactions with the Raised Funds (except the Credits) Legal Entities", "Income from Transactions with the Raised Funds of Physical Persons".

1.8. State Items 2.9 and 2.10 in the following edition:

"2.9. Money transfer in payment of other expenses (costs according to the transaction) according to the loan agreement or the credit agreement estimated on depreciated cost is reflected accounting entry:

The debit of the settlement account on the expenses connected with attraction of financial resources

Credit of the account on the cash accounting.

Money transfer by not credit financial credit institution in payment of other expenses (costs according to the transaction) according to the loan agreement or the credit agreement estimated at fair value through profit or loss is reflected accounting entry:

Debit of the account No. 47422 "Obligations on other financial transactions", No. 47423 "Requirements for other financial transactions"

Credit of the account on the cash accounting.

2.10. Charge of other expenses (costs according to the transaction) according to the loan agreement or the credit agreement estimated on depreciated cost is made regularly, proceeding from effective period of agreements, and is reflected accounting entry:

The debit of the account No. 71102 "The commission expenses and costs according to the transaction increasing interest expenses" (in OFR on the corresponding symbol of the subsection "The Commission Expenses and Costs according to the Transaction Increasing Interest Expenses" of the Section "Interest expenses")

The credit of the account of the accrued expenses connected with attraction of financial resources.

Charge of other expenses (costs according to the transaction) according to the loan agreement or the credit agreement estimated at fair value through profit or loss is reflected accounting entry:

The debit of the account No. 71508 "Expenses (except percentage) on transactions with the raised funds and issued debt securities" (in OFR on the corresponding symbol of the subsections "On the Credits Obtained From", "On the Funds (except the Credits) Raised from", "On the Raised Funds of Physical Persons" of the Section "Expenses (except Percentage) on Transactions with the Raised Funds and Issued Debt Securities")

Account No. 47422 credit of "Obligation on other financial transactions", No. 47423 "Requirements for other financial transactions".

Not credit financial credit institution can approve in accounting policy other procedure in case of which the added other expenses (costs according to the transaction) according to the loan agreement or the credit agreement separately are not reflected in accounts of financial accounting. At the same time depreciation of other expenses (costs according to the transaction) according to Item 1.19 of this provision is reflected as a part of adjustment to depreciated cost accounting entry, stipulated in Item 2.13 this provision.".

1.9. Add Item 2.12 with paragraphs of the following content:

"If not credit financial credit institution approved in accounting policy procedure in case of which the added other expenses separately are not reflected in accounts of financial accounting (costs according to the transaction) on the loan agreement or the credit agreement, write-off of paid amounts of the other expenses (costs according to the transaction) relating to current month is reflected accounting entry:

The debit of the account on accounting of the adjustments increasing the cost of the raised funds

The credit of the account on accounting of calculations for the expenses connected with attraction of financial resources.".

1.10. In subitem 2.16.10 of Item 2.16:

word in paragraph four "the subsection "Income from Transactions according to Issued Debt Securities" shall be replaced with words "the subsections "Income From Transactions with the Obtained Credits", "Income from Transactions with the Raised Funds (except the Credits) Legal Entities", "Income from Transactions with the Raised Funds of Physical Persons";

word in paragraph six "the subsection "On Transactions with Issued Debt Securities" shall be replaced with words "the subsections "On the Credits Obtained From", "On the Funds (except the Credits) Raised from", "On the Raised Funds of Physical Persons".

1.11. In Item 2.17:

word in paragraph six "the subsection "On Transactions with Issued Debt Securities" shall be replaced with words "the subsections "On the Credits Obtained From", "On the Funds (except the Credits) Raised from", "On the Raised Funds of Physical Persons";

word in paragraph seven "the subsection "Income from Transactions according to Issued Debt Securities" shall be replaced with words "the subsections "Income From Transactions with the Obtained Credits", "Income from Transactions with the Raised Funds (except the Credits) Legal Entities", "Income from Transactions with the Raised Funds of Physical Persons".

1.12. To state subitem 3.1.3 of Item 3.1 in the following edition:

"3.1.3. Money transfer in payment of the other expenses (costs according to the transaction) connected with release and the circulation of the bonds or bills of exchange estimated on depreciated cost is reflected accounting entry:

The debit of the account on accounting of calculations for the expenses connected with bond issue or bills of exchange

Credit of the account on the cash accounting or calculations.

Money transfer in payment of the other expenses (costs according to the transaction) connected with release and the circulation of the bonds or bills of exchange estimated at fair value through profit or loss is reflected accounting entry:

Debit of the account No. 47422 "Obligations on other financial transactions", No. 47423 "Requirements for other financial transactions"

Credit of the account on the cash accounting or calculations.".

1.13. To state subitem 3.4.4 of Item 3.4 in the following edition:

"3.4.4. Charge of the other expenses (costs according to the transaction) connected with release and the circulation of the bonds or bills of exchange estimated on depreciated cost is made regularly, proceeding from circulation period of bonds or bills of exchange, and is reflected accounting entry:

The debit of the account No. 71102 "The commission expenses and costs according to the transaction increasing interest expenses" (in OFR on the corresponding symbol of the subsection "The Commission Expenses and Costs according to the Transaction Increasing Interest Expenses" of the Section "Interest expenses")

The credit of the account on accounting of the accrued expenses connected with bond issue or bills of exchange.

Charge of other expenses (costs according to the transaction) on the issued bonds or bills estimated at fair value through profit or loss is reflected accounting entry:

The debit of the account No. 71508 "Expenses (except percentage) on transactions with the raised funds and issued debt securities" (in OFR on the corresponding symbol of the subsection "On Transactions with Issued Debt Securities" of the Section "Expenses (except Percentage) on Transactions with the Raised Funds and Issued Debt Securities")

Account No. 47422 credit of "Obligation on other financial transactions", No. 47423 "Requirements for other financial transactions".

Not credit financial credit institution can approve in accounting policy other procedure in case of which the added other expenses (costs according to the transaction) connected with release and the circulation of bonds or bills of exchange separately are not reflected in accounts of financial accounting. At the same time depreciation of other expenses (costs according to the transaction) according to Item 1.19 of this provision is reflected as a part of adjustment to depreciated cost the accounting entry provided by subitem 3.6.1 or subitem 3.6.2 of Item 3.6 of this provision.".

1.14. Add Item 3.5 with paragraphs of the following content:

"If not credit financial credit institution approved in accounting policy procedure in case of which the added other expenses (costs according to the transaction) connected with release and the circulation of bonds or bills of exchange separately are not reflected in accounts of financial accounting, write-off of paid amounts of the other expenses (costs according to the transaction) relating to current month is reflected accounting entry:

The debit of the account on accounting of the adjustments increasing the cost of the issued bonds or bills

The credit of the account on accounting of calculations for the expenses connected with bond issue or bills of exchange.".

2. This Instruction is subject to official publication and becomes effective since January 1, 2018.

 

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