INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 30, 2017 No. 4630-U

About requirements to implementation of dealer, broker activities, activities for management of securities and activities Forex dealers regarding capital adequacy measure calculation

This Instruction based on Item 3 of article 42 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 7, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015, No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001; No. 29, Art. 4348, Art. 4357; 2016 No. 1, Art. 50, Art. 81; No. 27, Art. 4225; 2017, No. 25, Art. 3592; No. 27, Art. 3925; No. 30, Art. 4444; No. 48, of the Art. 7052) (further - the Federal Law "About the Security Market") establishes requirements to implementation of dealer, broker activities, activities for management of securities and activities Forex dealers regarding capital adequacy measure calculation.

Chapter 1. General provisions

1.1. The dealer, the broker, the managing director and Forex dealer (further - professional participants) shall calculate capital adequacy indicator (further - maximum allowable concentration) according to requirements of this Instruction.

1.2. The maximum allowable concentration is calculated by formula:

where:

To - the size of the capital of the professional participant calculated according to Item 2.1 of this Instruction;

The KR - the size of credit risk of the professional participant calculated according to Item 3.1 of this Instruction;

RR - the size of market risk of the professional participant calculated according to Item 4.1 of this Instruction.

1.3. The professional participant calculates maximum allowable concentration monthly as of the last calendar date of month, and in case of the direction of the requirement of the Bank of Russia according to Item 7 of article 44 of the Federal law "About the Security Market" - as of the date specified in such requirement (further - settlement date).

Information on value of the maximum allowable concentration calculated by the professional participant and on the sizes included in its calculation shall be available to the Bank of Russia within five years from settlement date of maximum allowable concentration.

1.4. The sizes used in this Instruction including balance sheet assets and liabilities, the off-balance requirements and obligations nominated in foreign currency join the professional participant in calculation of maximum allowable concentration in the ruble equivalent calculated on the official rate of foreign currency in relation to the ruble established by the Bank of Russia for settlement date of maximum allowable concentration.

If the official rate of foreign currency in relation to ruble is not established by the Bank of Russia, the rate of this currency is determined by the professional participant with use of the official US dollar exchange rate established by the Bank of Russia in relation to ruble operating for date of determination of rate, and rate of this foreign currency to US dollar for the date preceding date of determination of rate.

1.5. Requirements of this Instruction do not extend to professional participants, being credit institutions, and also to the professional participants having the license of managing company of investment funds, mutual investment funds and non-state pension funds.

Chapter 2. Calculation of size of the capital of the professional participant

2.1. The size of the capital of the professional participant is calculated the professional participant as the amount of the sizes of the fixed and supplementary capital calculated according to Items 2.2 and 2.3 of this Instruction respectively less the indicators specified in Item 2.7 of this Instruction.

2.2. The size of fixed capital of the professional participant is calculated the professional participant as the amount of sizes of the indicators provided by subitems 2.2.1 - 2.2.7 these Items, reduced by the size of indicators, the stipulated in Item 2.4 presents of the Instruction, taking into account the requirement, the stipulated in Item 2.6 presents of the Instruction.

Calculation of size of fixed capital of the professional participant joins sizes of the following indicators.

2.2.1. The authorized capital of the professional participant constituted from nominal value of the ordinary shares acquired by shareholders if the professional participant is created in form of business of joint-stock company.

The authorized capital of the professional participant in form of business of joint-stock company is taken by the professional participant into consideration of size of fixed capital regarding shares, the report on results of which release is registered by the Bank of Russia or the notification on results of which release is provided to the Bank of Russia for settlement date of maximum allowable concentration.

The size of the authorized capital of the professional participant is determined by the professional participant proceeding from nominal value of the ordinary shares acquired by shareholders including shares which issue was performed before entry into force of the Federal Law "About the Security Market".

In case of reorganization of the professional participant in form of business of joint-stock company in the form of joining to it of other legal entity increase in the authorized capital of the professional participant to which the accession performed by placement of additional shares also is performed is taken by the professional participant into consideration of size of fixed capital of the professional participant. At the same time the specified increase in the authorized capital of the professional participant is taken by the professional participant into consideration of size of fixed capital of the professional participant from the date of entering into the Unified State Register of Legal Entities of record about the termination of activities of the last of the attached legal entities.

2.2.2. The authorized capital of the professional participant constituted from nominal value of shares of participants if the professional participant is created in form of business of limited liability company.

In case of reorganization of the professional participant in form of business of limited liability company in the form of joining to it of other legal entity increase in the authorized capital of the professional participant to which accession is performed is also taken by the professional participant into consideration of size of fixed capital of the professional participant. At the same time the specified increase in the authorized capital of the professional participant is taken by the professional participant into consideration of size of fixed capital of the professional participant to which accession, from the date of entering into the Unified State Register of Legal Entities of record about the termination of activities of the last of the attached legal entities is performed.

By reorganization of the professional participant created in form of business of limited liability company in the form of transformation to joint-stock company about day of registration by the Bank of Russia of the report on results of share issue of such joint-stock company calculation of size of fixed capital by the professional participant joins the size of the authorized capital constituted from nominal value of shares of members of such professional participant.

2.2.3. The share premium of the professional participant determined as size:

differences between the share placing price (realization of shares) and their nominal value received during the forming or increase in the authorized capital of the professional participant and (or)

differences between share value (share) calculated proceeding from the foreign exchange rate established by the Bank of Russia on the date of receipt of foreign currency in payment of the authorized capital of the professional participant and share value (share) established in the decision of the professional participant on share issue (in the decision of general meeting of founders of the professional participant on payment by share foreign currency).

The share premium of the professional participant in form of business of joint-stock company is taken by the professional participant into consideration of size of fixed capital of the professional participant regarding the shares acquired by its shareholders including shares which issue was performed before entry into force of the Federal Law "About the Security Market".

The share premium of the professional participant in form of business of limited liability company joins the professional participant in calculation of size of fixed capital of the professional participant from the date following date of entering into the Unified federal register of data on the facts of activities of legal entities of record about increase in the authorized capital.

2.2.4. Profit of the current year of the professional participant if concerning accounting (financial) records the professional participant has audit opinion specified in article 6 of the Federal Law of December 30, 2008 to No. 307-FZ "About auditor activities" (Collection of the legislation the Russian Federation Code, 2009, No. 1, of Art. 15; 2010, No. 27, Art. 3420; No. 51, Art. 6810; 2011, No. 1, Art. 12; No. 19, Art. 2716; No. 27, 3880; No. 29, Art. 4291; No. 48, Art. 6728; 2013, No. 27, Art. 3477; No. 30, Art. 4084; No. 52, Art. 6961; 2014, No. 10, Art. 954; No. 49, Art. 6912; 2016, No. 27, Art. 4169, Art. 4195, Art. 4293; 2017, No. 18, the Art. 2673) and the containing opinion of auditing organization, the individual auditor on reliability of accounting (financial) records of the professional participant (further - audit opinion).

The profit of the current year of the professional participant is taken by the professional participant into consideration of size of fixed capital for the period for which concerning accounting (financial) records the professional participant has audit opinion.

2.2.5. Profit of prior years of the professional participant if concerning accounting (financial) records the professional participant has audit opinion.

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