The Central Bank proposed to provide for the obligatory time interval between the signing of the law and its entry into force if the document requires the adoption of registered acts, writes RBC.
The Bank of Russia uses a release approach when introducing its regulations. New measures are introduced no earlier than six months after the publication of regulatory documents. This allows financial organizations to prepare in advance to change.
This approach will be applied if the laws relate to the mandatory requirements for business. The Central Bank considers it necessary to extend the new methodology for all the laws that come into force, since they have come across the abrasions due to the lack of a regulatory framework. The source of the publication noted that one of the “Avrals” there was a law on the abolition of compulsory inspection to obtain the CTP. Insurance companies could not begin to fulfill the requirements of the law, because they did not know which IT modulations need to be done.
Previously, the Central Bank described the scenario of the new global financial crisis. It will be comparable to scale with the crisis of 2008-2009. The US monetary policy tightening can lead to an increase in investors’ concerns, because of this, 2023 will begin with mass sales of assets.