Russian c bank to amend bank offshore capital law

Russian banks may be given a year to lower the share of their equity capital in offshore companies to 10% under new amendments to the law on banks and banking activities. If the amendments are passed, banks will be obliged to disclose their real owners and to submit the information to the central bank.

Source: Kommersant

On June 6, the Central Bank announced that amendments to the law on banks and banking activities limiting participation of offshore companies in capital of banks were coordinat