Regulatory Alerts2023-04-20 | 3336-1Added · Updated
Explanation on the Decision "On Introducing Changes and Additions to the Chart of Accounts of Accounting in Commercial Banks"
Changes and additions were introduced to the Chart of Accounts in commercial banks to optimize bank processes and correctly reflect bank operations in accounting and accounts. New separate accounts were established for reserves on standard assets, income accounting to prevent double taxation on reserve reversals, derivative instruments, financing for investment and green energy projects, currency exchange settlements, and liabilities related to the Rapid Payment System and Central Bank clearing systems. Accounting entries concerning financial assets, low-value items, cash operations, and securities transactions from four specific invalidated regulations were incorporated into the Chart of Accounts upon the loss of force of those documents.
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