INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of May 22, 2017 No. 4379-U

About modification of the Provision of the Bank of Russia of December 28, 2015 No. 526-P "Industry standard of the financial accounting "Procedure for Creation of Accounting (Financial) Records of Insurance Companies and Societies of Mutual Insurance"

According to 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. 14, the Art. 1997) and 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 May 15, 2017 No. 11) to bring in the Provision of the Bank of Russia of December 28, 2015 No. 526-P "Industry standard of the financial accounting "Procedure for Creation of Accounting (Financial) Records of Insurance Companies and Societies of Mutual Insurance", registered by the Ministry of Justice of the Russian Federation on January 28, 2016 No. 40869, on December 15, 2016 No. 44748, the following changes.

1.1. To add preamble after the words "Art. 5639" with words "; 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. 14, Art. 1997".

1.2. Add with Item 1.4.1 of the following content:

"1.4.1. The insurer has the right to make the decision on disclosure of the additional information to Articles of forms of accounting (financial) records by addition in accounting (financial) records of the lines deciphering information containing in Articles with use of turnovers "including" or "from them" in the name of the deciphered Articles.".

1.3. In Item 2.2:

the thirteenth after the words "Reserves" to add the paragraph with the words "and share of overcautious persons in reserves";

to add the paragraph of the forty eighth after the words "or loss" with words ", except the financial liabilities classified as estimated at fair value which changes are reflected in profit or loss, in case of initial recognition".

1.4. To add the paragraph of the thirty seventh of Item 2.4 after the words "or loss" with words ", except the financial liabilities classified as estimated at fair value which changes are reflected in profit or loss, in case of initial recognition".

1.5. To add the paragraph of the forty second of Item 2.5 after the words "or loss" with words ", except the financial liabilities classified as estimated at fair value which changes are reflected in profit or loss, in case of initial recognition".

1.6. To add Items 4.1 and 4.2 after the word "tables" with the word "approximate".

1.7. In Item 4.5 of the word "for the accounting period" shall be replaced with words "by the end of the reporting period".

1.8. To add Items 6.1 and 6.2 after the word "tables" with the word "approximate".

1.9. Add with Item 9.1.2 of the following content:

"9.1.2. Notes to the indicators of forms of accounting (financial) records having zero values, and (or) the notes providing disclosure of transactions which are not performed by the insurer do not join in accounting (financial) records.".

1.10. Add with Item 9.3.2 of the following content:

"9.3.2. If the insurer does not perform the transactions with these or those asset types (obligations) of the table or line of tables connected with such assets (obligations) are not filled and are not included accounting (financial) records.".

1.11. In Item 9.5 of the word "for the beginning of accounting year and" shall be replaced with words "for the end of the previous accounting year or".

1.12. Add with Items 9.8.2 and 9.8.3 of the following content:

"9.8.2. The insurer does not include in accounting (financial) records text explanations to tables on those transactions which are not performed by him, and also the explanations providing disclosure of the assets and liabilities which are absent at it on reporting date.

9.8.3. The insurer has the right to correct text explanations to tables if he considers it necessary in order that users could understand impact of specific transactions, other events and conditions on financial position and financial results of the insurer.".

1.13. In appendix 2:

in the column 3 of line 8 of figure "13" to replace with figures "15";

in the column 2 of line 34 of the word "and donations" to exclude.

1.14. In appendix 3:

to add the column 2 of line 17 with words ", except the financial liabilities classified as estimated at fair value which changes are reflected in profit or loss, in case of initial recognition";

after line 24 to add in the line 24.1 following of content:

"

";

to state the column 2 of line 32 in the following edition: "Profit (loss) from discontinued operation, the revaluation and asset retirement (disposal groups) classified as held for sale, constituting discontinued operation after the taxation";

to add the column 2 of line 35 with words ", including:".

1.15. In appendix 4:

to add the column 2 of line 9 with words ", except the financial liabilities classified as estimated at fair value which changes are reflected in profit or loss, in case of initial recognition";

after line 16 to add in the line 16.1 following of content:

"

";

to state the column 2 of line 22 in the following edition: "Profit (loss) from discontinued operation, the revaluation and asset retirement (disposal groups) classified as held for sale, constituting discontinued operation after the taxation";

to add the column 2 of line 25 with words ", including:".

1.16. Appendix 5 after line 13 to add in the line 13.1 following of content:

"

".

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