MOSCOW, November 15 The Bank of Russia extends until the end of next year the right of banks not to disclose information sensitive to sanctions risk, for example, data on the ownership structure and officials, according to a message on the regulator’s website.
«Measures that are planned to be temporarily extended, including with modification… until December 31, 2024, the right not to disclose information sensitive to sanctions risk, including about the ownership structure, members of management bodies and other officials, material conditions reorganization, part of the information about significant facts affecting the financial and economic activities of credit institutions reorganized in the form of merger, accession and transformation,” the Central Bank reported.
On the other hand, the regulator also intends to extend the obligation of credit institutions to disclose until the end of next year financial statements with exclusions of data sensitive to such sanctions. The same approach will continue to apply to the disclosure on the website of the Central Bank of the Russian Federation of banks’ reports, as well as information on their securities issues, he added.
“Thereby maintaining a balance between the market’s needs for information and the need to limit risks for banks and their clients,” the regulator explained.