TITLE: Russia's Central Bank Opens Public Consultation on Multiple Regulatory Amendments
BODY:
The Bank of Russia (Банк России) has opened public consultations on eight draft regulatory directives covering financial market operations, insurance, and administrative procedures. The consultation period runs through March and April 2026, with responses to be submitted to designated Bank of Russia email addresses.
The draft directives address the following areas: recognition of obsolete Federal Securities Commission and Federal Financial Markets Service regulations; amendments to cash operation procedures for credit institutions handling banknotes, coins, precious metals, and gemstones; modifications to motor vehicle liability insurance premium rates under Directive No. 7204-U issued on October 9, 2025; changes to vehicle damage repair cost calculation methodologies; and repeal of Bank of Russia Instruction No. 143-I from June 10, 2013. Additional amendments concern regulatory directives issued on June 17, 2025 (No. 7086-U) and October 1, 2024 (No. 6886-U).
Each draft directive includes explanatory notes and designated contact points for submission. Comment deadlines vary: April 7, 2026 for the securities commission directive; April 6, 2026 for cash operations and insurance amendments; March 30, 2026 for vehicle repair cost procedures; March 29, 2026 for instruction repeal; and March 26, 2026 for the remaining directives. All submissions undergo regulatory impact assessment evaluation. The Bank of Russia has published a recommended template for formatting comments and maintains a comprehensive regulatory calendar for 2026 on its official website.
REFERENCES:
Bank of Russia. Проекты нормативных актов Банка России [Regulatory Draft Acts]. Available at: www.cbr.ru