Simplification of opening correspondent accounts in foreign banks

According to the Central Bank, the opening of accounts in non-resident banks will be possible for settlement non-bank credit organizations. The change will allow NSCA to conduct cross-border settlements with banks from friendly countries. The innovation will also affect the system of correspondent relations.

At the moment, there is a standard H16.1, which establishes an indicator of the issuance of loans by non-bank organizations. It will be amended accordingly – according to the proposals of the regulator, the amounts remaining on accounts in resident banks from friendly countries will be excluded.

After making changes to H6, the balances will be included in the calculation of the standard in full if the non-resident bank has a rating lower than “BBB-“. Document H16 will contain data on the maximum total amount of customer loans. The credit rating levels are based on risk factors and the creditworthiness of the borrower.

Another bill is also under consideration by the Duma – financial organizations with basic licenses can also get the right to open.