MOSCOW, February 24. /TASS/. Russia’s Central Bank has provided banks with the right to record securities acquired from February 18 to December 31, 2022, at fair value as of the date of purchase, the regulator said in a statement on Thursday.
"The Bank of Russia notes that credit institutions and non-bank financial institutions which apply Bank of Russia accounting regulations, will be entitled to record equity and debt securities, they buy in the period from 18 February to 31 December 2022, at fair value as of the date of purchase," the statement said.
On February 22, the Central Bank of Russia announced measures to maintain financial stability. Particularly, it allowed financial institutions to recognize shares and bonds in reporting at their market value as of February 18 2021, until October 1, 2022. It also allowed credit institutions to calculate required ratios using the foreign exchange rates as of February 18, 2022, until October 1, 2022.
Trading on Moscow Exchange was suspended early on Thursday as the ruble and the Russian stock market declined to the levels set by the exchange. The dollar and the euro hit all-time highs on Forex market.