INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of May 24, 2017 No. 4382-U

About establishment of economic standard rates for the microfinance company raising money of physical persons, including individual entrepreneurs, and (or) legal entities in the form of loans, and the microfinance company performing release and placement of bonds

This Instruction based on Item 5.2 of part 4 of article 14 of the Federal Law of July 2, 2010 No. 151-FZ "About microfinancial activities and the microfinancial organizations" (The Russian Federation Code, 2010, No. 27, Art. 3435; 2011, No. 27, Art. 3880; No. 49, Art. 7040; 2013, No. 26, Art. 3207; No. 30, Art. 4084; No. 51, Art. 6683, Art. 6695; 2014, No. 26, Art. 3395; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, No. 1, Art. 27; No. 27, the Art. 4163, the Art. 4225), article 76.4 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, the Art. 2661, the Art. 2669) 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 April 14, 2017 No. 8) establish economic standard rates for the microfinance company raising money of physical persons, including individual entrepreneurs, and (or) legal entities in the form of loans, and the microfinance company performing release and placement of bonds (further - economic standard rates).

1. Economic standard rates are:

the standard rate of sufficiency of own means (further - the standard rate of NMFK1);

the standard rate of liquidity (further - the standard rate of NMFK2);

the maximum extent of risk on one borrower or group of the connected borrowers (further - the standard rate of NMFK3);

the maximum extent of risk on the face (group of the faces tied with microfinance company) tied with microfinance company (further - the standard rate of NMFK4).

For the purpose of calculation of economic standard rates are used this to the reporting, including accounting (financial) records, and financial accounting.

2. The standard rate of NMFK1 is calculated by formula:

where:

To - own means (capital) of microfinance company determined according to the Instruction of the Bank of Russia of June 9, 2016 No. 4037-U "About establishment of technique of determination of own means (capital) of microfinance company", the registered Ministry of Justice of the Russian Federation on July 11, 2016 No. 42801 (further - the Instruction of the Bank of Russia No. 4037-U);

And - the cost of the financial assets accepted for determination of own means (capital) of microfinance company according to the Instruction of the Bank of Russia No. 4037-U;

A1 - the cost of the following assets:

the financial investments regarding the provided legal entities and (or) individual entrepreneurs who are at the time of the conclusion of the agreement of microloan subjects of small and medium entrepreneurship, money under agreements of microloan less the amount of the reserves on possible losses on loans (on the amount of principal debt) created on them according to the Instruction of the Bank of Russia of June 28, 2016 No. 4054-U "About procedure for forming by the microfinancial organizations of reserves on possible losses on loans", the registered Ministry of Justice of the Russian Federation on July 28, 2016 No. 43023 (further - the Instruction of the Bank of Russia No. 4054-U);

receivables on interest incomes on the microloans provided to legal entities and (or) individual entrepreneurs being at the time of the conclusion of the agreement of microloan subjects of small and medium entrepreneurship which join interest for using microloan, and also any predefined the agreement of microloan the income on microloan, less the amount of the reserves on possible losses on loans (on the amount of requirements for the added interest incomes) created on them according to the Instruction of the Bank of Russia No. 4054-U;

A2 - the cost of the following assets:

the financial investments regarding the provided physical persons who are not individual entrepreneurs, money under the agreements of microloan signed for a period of up to 30 days inclusive in the amount to 30 thousand rubles inclusive less the amount of the reserves on possible losses on loans (on the amount of principal debt) created on them according to the Instruction of the Bank of Russia No. 4054-U;

receivables on interest incomes on the microloans provided to the physical persons who are not individual entrepreneurs under the agreements of microloan signed for a period of up to 30 days inclusive in the amount to 30 thousand rubles inclusive which join interest for using microloan, and also any predefined the agreement of microloan the income on microloan, less the amount of the reserves on possible losses on loans (on the amount of requirements for the added interest incomes) created on them according to the Instruction of the Bank of Russia No. 4054-U.

3. Minimum admissible numerical value of the standard rate NMFK1 is established in the amount of 6 percent.

4. The standard rate of NMFK2 is calculated by formula:

where:

LA - the quick assets of microfinance company considered in lines of the balance sheet "Receivables", "Financial Investments (Except for Cash Equivalents)", "Money and Cash Equivalents", "Other Current Assets" of the Section II "Current assets" on which completion date is not broken and constitutes for settlement date of the standard rate no more than 90 calendar days;

TO - the amount of the following obligations of microfinance company with completion date for settlement date of the standard rate no more than 90 calendar days:

agreement obligations of loan (credit agreements);

obligations on the issued and placed bonds;

obligations on dismissal wage payment and (or) on compensation of the persons working or working according to the employment contract;

obligations on tax payment, charges and other compulsory contributions paid to the budget of appropriate level of budget system of the Russian Federation and (or) state non-budgetary funds according to the procedure and on conditions which are determined by the legislation of the Russian Federation;

accounts payable before suppliers and contractors.

5. Minimum admissible numerical value of the standard rate NMFK2 is established in the amount of 100 percent.

6. The standard rate of NMFK3 is calculated by formula:

where:

Зм - the cumulative amount of requirements of microfinance company to one borrower (group of the connected borrowers) arising according to obligations of the borrower (the borrowers entering into group of the connected borrowers) to microfinance company and to the third parties owing to which the microfinance company has requirements for the specified borrower (the borrowers entering into group of the connected borrowers) less the size of the reserves on possible losses on loans calculated according to the specified requirements according to the procedure, established by the Instruction of the Bank of Russia No. 4054-U;

To - own means (capital) of microfinance company determined according to the Instruction of the Bank of Russia No. 4037-U.

7. The most admissible numerical value of the standard rate NMFK3 is established in the amount of 25 percent.

8. The standard rate of NMFK4 is calculated by formula:

where:

Zee - the cumulative amount of requirements of microfinance company to the face tied with microfinance company (group of persons, connected with microfinance company) which arose according to obligations of the face tied with microfinance company (groups of persons, connected with microfinance company) before microfinance company and before the third parties owing to whom the microfinance company has requirements for the specified person (group of persons, connected with microfinance company), less the size of the reserves on possible losses on loans calculated according to the specified requirements according to the procedure, established by the Instruction of the Bank of Russia No. 4054-U;

To - own means (capital) of microfinance company determined according to the Instruction of the Bank of Russia No. 4037-U.

9. The most admissible numerical value of the standard rate NMFK4 is established in the amount of 20 percent.

10. For the purpose of calculation of standard rates of NMFK3 and NMFK4 of the concept "group of the connected borrowers", "group of persons" are applied in value of the concept "group of persons" determined by article 9 of the Federal Law of July 26, 2006 No. 135-FZ "About protection of the competition" (The Russian Federation Code, 2006, No. 31, Art. 3434; 2007, No. 49, Art. 6079; 2008, No. 18, Art. 1941; No. 27, Art. 3126; No. 45, Art. 5141; 2009, No. 29, Art. 3601, Art. 3610; No. 52, Art. 6450, Art. 6455; 2010, No. 15, Art. 1736; No. 19, Art. 2291; No. 49, Art. 6409; 2011, No. 10, Art. 1281; No. 27, Art. 3873, Art. 3880; No. 29, Art. 4291; No. 30, Art. 4590; No. 48, Art. 6728; No. 50, Art. 7343; 2012, No. 31, Art. 4334; No. 53, Art. 7643; 2013, No. 27, Art. 3436, Art. 3477; No. 30, Art. 4084; No. 44, Art. 5633; No. 51, Art. 6695; No. 52, Art. 6961, Art. 6988; 2014, No. 23, Art. 2928; No. 30, Art. 4266; 2015, No. 27, Art. 3947; No. 29, Art. 4339, Art. 4342, Art. 4350, Art. 4376; No. 41, Art. 5629; 2016, No. 27, Art. 4197).

11. For the purpose of calculation of the standard rate of NMFK4 the concept "the faces tied with microfinance company" is applied in value of the concept "related parties" determined by the International accounting standard (IAS) 24 "Disclosure of information on the related parties" enacted in the territory of the Russian Federation by the order of the Ministry of Finance of the Russian Federation of December 28, 2015 No. 217n "About introduction of International accounting standards and Explanations of International accounting standards in action in the territory of the Russian Federation and about recognition No. which voided some orders (separate provisions of orders) of the Ministry of Finance of the Russian Federation", the registered Ministry of Justice of the Russian Federation on February 2, 2016 40940, on August 1, 2016 No. 43044.

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

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