OREANDA-NEWS. The Bank of Russia has developed a draft Ordinance 'On the Financial Ratio Numerical Value and the Procedure for Calculating Financial Ratios for  Agricultural Consumer Credit Cooperatives'.

The draft establishes the minimum permissible numerical value of the financial ratio between the amount of the credit cooperative's monetary claims maturing in the course of 12 months and the amount of the credit cooperative's monetary obligations maturing in the course of 12 months at 70%. For credit cooperatives operating less than two years the ratio is set at 50%. 'Thus, a part-load regulation mode is set for 'younger' cooperatives than for 'mature' ones', Mikhail Mamuta, Head of Main Office of Microfinance Market and Financial Inclusion Methodology. 'This will allow them to develop in a more encouraging environment at the first stage of operation, when risks are low'.

The document stipulates the procedure for calculating the financial ratios set by Federal Law No. 99-FZ, dated 20 April 2015, 'On Amending the Federal Law 'On Agricultural Cooperation'. The Ordinance shall take effect from 1 June 2018, except for the rate on the financial ratio FN4 (the ratio between the unit fund and the debt on principal occurred as a result of the credit cooperative's borrowing from its members and associated members), which shall be effective from 1 June 2020.