Garant. Daily monitoring of the Federal legislation от 24 июня 2024

Garant. Daily monitoring of the Federal legislation at 24.06.2024

• Order of the Ministry of Internal Affairs of the Russian Federation No. 288 of May 24, 2024 - on approval of the Procedure for carrying out mandatory state fingerprint registration and photographing of foreign citizens and stateless persons that arrived in the Russian Federation for purposes not related to labour activities for a period exceeding ninety calendar days, or for the purpose of carrying out labour activities, as well as foreign citizens and stateless persons wishing to enter the Russian Federation for such purposes
  
   

Dear colleagues,

this Newsletter to be sent once a week on Fridays in order to keep you informed of the most significant legal developments in the Russian legislation and to assist you in navigating within the ever-increasing information traffic.

You may apply to the GARANT Company for the current wording of any document contained in the newsletter. This is the most reliable option to obtain translations of the Russian legal acts that are being updated weekly.

Visit our website and enjoy some privileges:  

• ordering fix price documents
• demo-version of GARANT system online 

News of the week

A new limit has been established on balance sheet open currency positions in the amount of 50% of capital, and criteria for fictitious and unreliable hedging of currency risk have also been specified.
The procedure for calculating open currency positions has been revised. It is close to intrabank economic approaches and takes into account the actual impact of currency risk on financial results according to international standards.
The rules have been adjusted according to which failure to comply with open currency positions limits is considered a violation. Credit institutions are given more time to cover positions that were opened in emergency situations due to external reasons.
The Instructions shall enter into force on July 1, 2024. The provisions concerning hedging transactions shall enter into force on October 1, 2024.

! Documents' full texts are avaiable in the commercial version of the Garant database «Legislation of Russia in English»

More helpful information

In a new video, we would like to come across with some helpful information on the extraordinary features of the GARANT's Legislation of Russia in English, ensuring the most convenient document management. 

Video duration — one and a half minutes.

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Important documents of the week that you might have missed

• Information letter of the Bank of Russia No. IN-03-59/34@ of June 3, 2024 - increasing the attention of credit institutions to various formats for providing financial services in rural areas and in remote, sparsely populated and hard-to-reach areas.
• Information statement of the Bank of Russia, dated June 7, 2024 - the Bank of Russia decided to maintain the key rate at 16.00% per annum: on June 7, 2024, the Bank of Russia decided to maintain the key rate at 16% per annum. However, the Bank of Russia allows for the possibility of raising the key rate at the next meeting.

You may apply to the GARANT Company for any document from the newsletter in its current wording. Visit our website and enjoy some privileges: 

• ordering fix price documents
• demo-version of GARANT system online