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Financial requirements for Clearing Participants

Financial requirements

To confirm their financial standing the Clearing Members provided with access to clearing shall submit an audit opinion to the Clearing Organization concerning the results of the entitys activity inspection as of the last year with the balance sheet, profit and loss statement or income statement to be attached and executed in compliance with the requirements of the legislation of the Russian Federation to preparation of audit opinions for the resident entities and in compliance with the International Audit Standards for non-resident entities, shall submit the following financial reporting statements as well:

a) for resident credit institutions:
(i) turnover balance sheet for accounts of the credit organization (form 0409101) monthly;
(ii) information on mandatory ratios and other performance indicators of the credit organization (form 0409135) monthly;
(iii) calculation of equity (capital) (Basel III)(form 0409123) monthly;
(iv) statement of financial performance results of the credit organization (form 0409102) quarterly;
(v) information on assignment/change/withdrawal of credit ratings established by such rating agencies as: Moodys Investors Service, Fitch Ratings, Standard & Poors, Expert RA, RusRating, NRA.

b) for resident non-credit institutions:
(i) balance sheet (form No. 0710001) quarterly;
(ii) statement of financial performance results (form No. 0710002) quarterly;
(iii) for entities being the professional securities market participants, management companies of investment funds, unit investment funds and non-governmental pension funds calculation of equity (capital) under the form set by the Bank of Russia quarterly;
(iv) for entities not being professional securities market participants, management companies of investment funds, unit investment funds and non-governmental pension funds calculation of net assets value according to the Procedure for Net Assets Value Determination approved by the decree of the Ministry of Finance of the Russian Federation quarterly.

c) non-resident entities shall submit financial statements prepared in compliance with the International Financial Reporting Standards:
(i) annual report with the balance sheet and the audit opinion enclosed annually;
(ii) questionnaire showing key financial figures (the form is provided in Appendix 03-a to the Clearing Rules) quarterly;
(iii) for credit institutions - information on assignment/change/withdrawal of credit ratings established by such rating agencies as: Moodys Investors Service, Fitch Ratings, Standard & Poors, Expert RA, RusRating, NRA.

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