Новости

CB of Russia to raise requirements for risky banks

It is possible that the Bank of Russia will stop treating all the banks equally as it is seriously considering the possibility of higher standards for those engaged in risky business. Higher requirements may be imposed in a form of higher minimal value for the H1 (“capital adequacy”) standard.

Russian insurers will be given their own “depository”

The Federal Financial Markets Service sent its suggestions to the Minfin, proposing to create a special depository institution on the insurance market. With that they will be able to put “grey” schemes of placement on insurance reserves to an end.

State Duma of Russia won’t set upper boundaries for micro credits

Although mandatory disclosure of effective rates on credits issued by micro entities is still a possibility (and very likely one of that), the other suggestion was already rejected as the State Duma of Russia doesn’t want to set upper ceilings for interest rates on credits.

EFRAG, the ASB and the OIC organize outreach event on Proactive Discussion Papers

EFRAG, the UK Accounting Standard Board and the Italian Standard Setter OIC - Organismo Italiano di Contabilita' - organize their joint outreach event on the discussion papers “Business Combination Under Common Control” and “Improving Financial Reporting Of Income Tax” on 16 April in London from 2 pm till 5 pm.

The Financial Reporting Review Panel publishes revised operating procedures

The Financial Reporting Review Panel today published revised operating procedures which incorporate changes on sharing information with the Audit Inspection Unit (AIU) and on the circumstances in which the Panel may make an announcement about a company’s report and accounts under review.

ESMA allows EU-registered CRAs to endorse credit ratings issued in the US, Canada, Hong Kong and Singapore

ESMA today announces that it considers the regulatory frameworks for credit rating agencies (CRAs) of the United States of America, Canada, Hong Kong and Singapore to be in line with European rules.

“Professional judgment” will be applied by the Bank of Russia in respect to banks

This Monday Russia’s still-a-president Dmitry Medvedev met with representatives of the banking society. During the meeting the Central Bank’s chair Sergei Ignatiev expressed an interesting idea: he’s asking for a right for “motivated judgment” for the Bank of Russia.

Micro entities of Russia will be forced to disclose effective rates

The Federal Financial Market Service (FFMS) is seriously worried by rates on credits given by micro financial entities in Russia. Deputy chairperson of the FFMS Yulia Bondareva announced that soon all micro entities would have to disclose effective rates on credits just like all banks and credit unions do today.

Citigroup failed stress-testing

Yesterday the US Federal Reserve published results of its latest stress-testing of 19 largest American banks. It appears that under the adverse macroeconomic scenario and dividends kept as planned 15 out those 19 banks will still be able to meet capital adequacy requirements.

APB updates guidance for Charities Act 2011

These updates have primarily been made to incorporate new legislative references to the Charities Act 2011 which becomes effective on 14 March 2012. The amendments do not require any changes to audit processes and procedures and a formal consultation was not considered necessary.