Currency transactions between residents and non-residents. Currency transactions between residents Foreign currency transactions of non-residents

Active actions Russian Federation on the creation in a short time of a comprehensive system for combating the legalization (laundering) of proceeds from crime, were accordingly assessed by the world community. On October 11, 2002, Russia was removed from the "black list" of countries that are poorly fighting money laundering, where the Russian Federation has been since 2000. And at the plenary meeting of the International Financial Crime Group, held on June 18 - 20, 2003 in Berlin, it was accepted decision to admit the Russian Federation to the FATF. At the same time, at the July meeting of the FATF in Berlin, it was adopted new edition 40 recommendations, which significantly specifies the previously existing standards and introduces new, more stringent requirements for combating the legalization (laundering) of proceeds from crime. The FATF called on its members, including Russia, to immediately begin work on the implementation of the revised 40 recommendations that establish new international rules in this area.

In accordance with the new requirements, the AML/CFT system in the Russian Federation is constantly being improved. So, from January 15, 2008, an addition was introduced to the Law that non-cash settlements and transfers without opening an account, made in the territory of the Russian Federation and from the Russian Federation, must be accompanied at all stages of their implementation by information about the payer and his account number (if he availability) by indicating such information in the settlement document or otherwise. In the absence of the above information, the credit institution is obliged to refuse to make the transfer.

26.5. Regulation of settlement and payment relations

With foreign countries

Settlement and payment relations between countries are regulated by bilateral intergovernmental agreements on trade and economic cooperation or interbank agreements. Both those and other agreements are legal basis settlement and payment relations of Russia with foreign countries.

Depending on the nature of the existing settlement and payment relations between Russia and foreign countries, they can be divided into two groups:

Settlement and payment relations with non-CIS countries;

Settlement and payment relations with neighboring countries (these include the former Soviet republics, except for the Baltic countries).

with most countries far abroad international settlement and payment relations of the Russian Federation are carried out in freely convertible currencies.

The US dollar, euro, pound sterling and other freely convertible currencies are used as the settlement currency. The choice of a specific freely convertible currency is determined by the agreement of the parties.

Settlement and payment relations of Russia with some countries are regulated by intergovernmental agreements on trade and payments concluded with them by the former USSR. Their action continues to this day. These agreements provide for settlements in freely convertible currencies in accordance with the exchange regime of the contracting countries. On the same terms, agreements on trade, economic and technical cooperation were concluded with some far-abroad countries, already the Russian Federation.

For example, the Trade Agreement with the Government of the Democratic Republic of Ethiopia (November 26, 1999) provides for settlements in freely convertible currency "in accordance with the laws and regulations in force in their countries."

According to the Agreement between the Government of the Russian Federation and the Government of the Lebanese Republic on trade and economic cooperation (dated March 31, 1995), all payments of a commercial and non-commercial nature will be made in a freely convertible currency in accordance with the currency control rules in force in each of the countries, unless otherwise agreed between the parties to individual transactions and does not contradict the laws and regulations in force in each of the countries.

Agreement between the Governments of the Russian Federation and Islamic Republic Iran on Trade and Economic Cooperation (April 14, 1997) stipulates that all payments between countries will be made in freely convertible currency in accordance with the laws in force in each country. But in some cases, the parties - legal entities and individuals may agree on other methods of payment in accordance with internationally recognized norms and rules that do not contradict the currency legislation of each country.

In accordance with the intergovernmental Agreement on trade, economic and technical cooperation between Russia and Syria (signed in 1993), payments between countries must be made in a freely convertible currency, and in some cases legal entities and individuals can agree on other currencies and payment methods in accordance with the laws and regulations in force in both countries.

Settlements between Russia and India are made mainly in US dollars and British pounds sterling. However, according to an agreement reached in 1997, settlements for government loans received by India from former USSR, can be carried out in Indian rupees.

The above statements indicate that Russian organizations when concluding contracts, they must have a good knowledge of the currency legislation of their partners in order to protect themselves from the risk of non-payment on export contracts and the risk of non-delivery of imported goods.

Clearing-type payment agreements went to Russia from the former USSR as its legal successor. When switching to settlements with these countries in freely convertible currencies, clearing accounts were not completely closed. Therefore, part of the transactions go through these accounts.

Clearing- this is a special method of non-cash international payments, established by states by agreement with each other and consisting in a centralized offset of counter payments of these countries. The clearing method of settlements allows you to freely make mutual offset of payments without transferring currency and gold. This facilitates the regulation of settlements under the conditions of currency restrictions and reduces distribution costs in settlements.

Clearing Agreements are concluded together with agreements on trade turnover, establishing contingents of goods supplied to each other. States undertake to facilitate the delivery of goods provided for in the contingents.

When concluding agreements, commodity lists are drawn up in such a way as to ensure the equality of the cost of commodity deliveries and, accordingly, the equality of mutual payments on both sides.

But in fact, this equality is not always observed: the reason for the deviation may be a discrepancy in time between the delivery of goods and the reflection of the payment amount on the clearing account (which depends on the form of settlements between foreign trade organizations of the seller's country and the buyer's country).

Other reasons for discrepancies between calculations and the movement of goods are the seasonal nature of deliveries, the long lead times for the manufacture of some goods.

Therefore, the agreements allow for a certain amount of mutual credit for settlement purposes; it is called technical clearing credit.

The agreement establishes clearing currency is the unit of account in which clearing accounts are maintained. Clearing accounts may be maintained in the currency of one of the partner countries, in the currencies of both countries or in the currency of a third country.

Payments from and to clearing accounts are always made in each country in its currency only. So necessary condition The normal functioning of currency clearing is the establishment of an economically justified clearing exchange rate between the clearing currency and the currencies of counterparty countries: an overvalued clearing rate of the currency of one country (compared to its purchasing power) facilitates imports to this country from a partner country and prevents exports to it.

The technique of maintaining clearing accounts, the procedure for reflecting the amounts of receipts and payments on them are regulated by interbank agreements. The clearing account balance is the sum of the obligations of one of the partner countries, which this moment cannot be counted. On a regular basis, within the agreed time frame, the current clearing balance is cleared.

Depending on the method of repayment of the balance (in excess of the technical loan), clearings are divided into:

Clearings without the right to convert - the balance is settled only by the supply of goods, services by the party that has formed negative balance; the other party temporarily suspends deliveries until the balance is equalized;

Clearing with free conversion - a party that has a negative balance (in any amount in excess of a technical loan) is obliged to repay it with a freely convertible currency;

Clearings with limited conversion - the negative balance (in excess of technical credit) is repaid in freely convertible currency if it exceeds the amount specified by the parties.

The final settlement of the balance can be achieved by applying various ways- additional deliveries of goods (services), redemption in a freely convertible currency, transferring it to a clearing account of a third party with its consent.

The currency legislation of the Russian Federation does not provide for the opening of clearing accounts by residents and non-residents.

International settlements of the Russian Federation have their own characteristics with countries of Eastern Europe, China and Mongolia. Intergovernmental agreements on trade and economic cooperation have also been concluded with these countries. But their content was affected by Russia's policy to develop direct links between the regions and economic entities of the Russian Federation with the corresponding entities of other countries. Therefore, these agreements state that the parties to foreign trade contracts bear full responsibility for their implementation, and the competent authorities of the respective countries control their implementation. Settlement and payment relations are carried out in freely convertible currencies or in the national currencies of these countries in accordance with their currency legislation through authorized banks or through commercial banks authorized by the parties.

A feature of payment and settlement relations with the countries of Eastern Europe and other countries of the former CMEA is that, due to the imbalance of trade relations with them of the former USSR, Russia has formed heavily indebted before these countries, which will be repaid on the basis of agreements with commodity deliveries. Payments for these deliveries are made in next order:

Supply contracts are concluded by the manufacturers themselves or foreign trade associations involved in this work;

The ruble costs of manufacturers are calculated taking into account industrial selling prices, contract prices and changes in the exchange rate of the Russian ruble against the dollar;

Financing of the costs associated with the implementation of these contracts is carried out by the Ministry of Finance of Russia;

Vnesheconombank, on the basis of interbank agreements signed with the banks of these countries, accounts for and settles debt repayments.

Payment and settlement relations with neighboring countries since the mid 90s. are carried out through authorized commercial banks of these countries in freely convertible currencies, Russian rubles, much less often - in the national currencies of the respective states.

The exchange rates between the currency of the Russian Federation and the national currencies of partner countries are determined commercial banks independently, but their value is close to the exchange rates that are formed on the currency exchanges where they are quoted.

An important role in the process of improving payment and settlement relations between Russia and neighboring countries is assigned to the formation of a single economic space, within which conditions should be created for the mutual convertibility of national currencies and the transition to settlements in national currencies.

1. Monetary policy is one of the instruments for regulating the country's foreign exchange relations. It should ensure the stability of the economic development of the state, the balance of its foreign economic relations, the balance of payments.

2. The specific tasks of monetary policy at different stages of historical development and the forms of its implementation are determined by the monetary and economic situation of the country, the processes taking place in the world economy, and the alignment of forces on the world stage.

3. The monetary policy of the state is implemented through currency regulation, which is a set of economic and administrative measures implemented by the state aimed at establishing the procedure for conducting foreign exchange transactions. It is carried out by the currency regulation authorities.

4. The task of currency regulation is to manage external and internal flows with the help of the established procedure for conducting foreign exchange transactions in order to influence in the right direction on financial market country and its economy as a whole.

5. An integral part of currency regulation is currency control over the conduct of currency transactions, which is carried out by bodies and agents of currency control.

6. The legal basis for currency regulation and currency control is currency legislation. Its analysis allows us to conclude that the system of currency regulation in the Russian Federation as a whole is developing in the direction of liberalization. This corresponds to the requirements of the time: the country has been given the task of joining world economy. But the liberalization of foreign exchange legislation, leading to an increase in the number of participants in foreign exchange relations and an increase in the volume of foreign exchange transactions, requires an increase in the effectiveness of foreign exchange control as an instrument of the state's foreign exchange policy.

7. Russia's payment and settlement relations with the CIS countries require improvement. In this direction, an important role is assigned to the formation of a single economic space and the Payments Union, the ultimate goal of which is the creation of a multilateral settlement system in the collective currency.

8. The problem of combating money laundering, obtained by criminal means, and the financing of terrorism has acquired in last years special scope and began to be regarded as paramount.

9. In the Russian Federation, the AML/CFT system began to be created in 2001, when the relevant Federal Law was adopted and a special government agency - federal Service for financial monitoring.

10. The federal law establishes a list of suspicious transactions and a list of organizations that are required to inform the FSFM about them.

11. The most active participants in the AML/CFT system in the Russian Federation are credit organizations which should develop internal control rules based on the "know your customer" principle and involve all bank employees in the counteraction system.

Basic concepts

Monetary policy of the state

Currency regulation

Motto policy

Discount policy

Currency intervention

currency values

Currency operations

Currency restrictions

External securities

Domestic securities

Interior currency market

Transaction passport

Resident

non-resident

Currency control

Currency control authorities

Currency control agents

Repatriation of export earnings

Legalization (laundering) of criminal proceeds (money laundering)

Stages of money laundering

Questions for self-examination

1. What are the objectives of the state's monetary policy and in what forms is it carried out?

2. What is currency regulation? For what purpose is it carried out?

3. What is the legal basis for currency regulation?

4. What are the methods of currency control over currency transactions?

5. What applies to currency values?

6. What operations are recognized as currency transactions?

7. What bodies carry out currency regulation?

8. What bodies are agents of currency control?

9. When and why did the problem of combating money laundering become especially relevant throughout the world?

10. What is the mechanism of money laundering?

11. When did the creation of the AML/CFT system start in the Russian Federation and what special body was formed?

12. Which transactions are subject to special mandatory controls and which organizations are required to inform the FSFM about these suspicious transactions?

13. Why are credit institutions the most active participants in the AML/CFT system in the Russian Federation and what actions should they take to implement the Law on Combating the Legalization of Proceeds from Crime?

14. When did the Russian Federation become a member of the FATF and what obligations does this impose on our country?

Chapter 27. INTERNATIONAL AND REGIONAL CURRENCY AND CREDIT

AND FINANCIAL INSTITUTIONS

International financial institutions designed to solve the following tasks:

Unite the efforts of the entire world community to achieve stabilization international finance and the world economy;

Develop and coordinate the strategy and tactics of the world monetary and credit and financial policy;

To carry out interstate currency and credit and financial regulation.

This chapter discusses the prerequisites for the emergence of international and regional monetary and financial institutions, constituting the institutional basis of the world financial system. Their activities are analyzed from the standpoint of the goals and objectives facing them, as well as their role in solving financial problems related to the implementation of market reforms in developing countries and states in the post-socialist space.

27.1. International Monetary Fund (IMF)

The International Monetary Fund (IMF) was established at the International Monetary and Financial Conference of the United Nations, held in Bretton Woods (USA) from July 1 to July 22, 1944. It has the status of a UN specialized agency. Is an institutional framework world monetary system.

The official stated objectives of the IMF are:

Promoting international cooperation in the monetary and financial sphere and the development of international trade;

Regulation of monetary and credit relations of the member states of the Fund;

Rendering financial assistance its members in case of currency difficulties associated with the imbalance of payments, by providing them with short-term and medium-term loans in foreign currency;

Assistance in the creation and functioning of a multilateral system of payments for current transactions between member countries and in the elimination of currency restrictions;

Providing member countries with advisory and technical assistance on currency and financial issues.

The role of the charter fulfill the Articles of the Agreement on the IMF adopted at the conference, which entered into force on December 27, 1945. Later, they were amended several times, which is associated with the evolution of the world monetary system and the transformation of the Fund's activities. The first series of amendments was introduced in 1968 - 1969. (entered into force on July 28, 1969). These amendments are connected with the introduction of SDR - special drawing rights. The second series of amendments was introduced in 1976 - 1978. (entered into force on April 1, 1978) and is associated with the replacement of the Bretton Woods monetary system with a new one - the Jamaican monetary system. In 1990 - 1992 a third amendment was made regarding sanctions against member countries: failure to fulfill obligations to the Fund provided for the suspension of the right to vote.

The practical activities of the IMF began in May 1946, with 99 member countries. He started foreign exchange operations on March 1, 1947.

In the early 90s. former socialist countries joined the Fund (with the exception of the DPRK and the Republic of Cuba) and former republics USSR became independent states. Russia became a member of the IMF on June 1, 1992, the rest of the CIS and Baltic countries - from April to September 1992, Tajikistan - in April 1993.

The permanent seat of the governing bodies is Washington (USA). The Foundation has offices in Paris, Geneva, Tokyo, Brussels and New York (at the UN).

external governing body The IMF is the Board of Governors. In it, each country - a member of the Fund is represented by a manager and his deputy. They are appointed by the governments of the respective states for a term of five years. As a rule, these are ministers or heads of central banks.

The Board of Governors meets once a year to resolve issues within its jurisdiction:

Amendments to the Articles of the Agreement (Charter);

Elections executive directors;

admission and exclusion of members;

Determination and revision of their shares in the capital;

Other fundamental questions.

Principle of voting in the Board of Governors: decisions are made by a simple majority of votes (at least half), and on the most important issues - by a special majority (85% of the votes on strategic issues and 70% of the votes on operational issues).

Thus, the ability of countries to influence the results of voting is actually determined by their share in the capital of the Fund. This arrangement ensures that the leading countries receive a decisive majority of votes, since they have the largest number quotas. Thus, through voting, these countries direct the activities of the Fund in their own interests.

The Board of Governors has two working bodies - committees that prepare the necessary materials for it.

International Monetary and Financial Committee(its predecessor was the Interim Committee) of the Board of Governors on the World Monetary System deals with the development of strategic decisions on the functioning of the world monetary system and the activities of the IMF, and also submits to the Board of Governors proposals for amending the Articles of Agreement (Charter) of the IMF. But he does not have the authority to make directive decisions. Consists of 24 managers, meets twice a year. Russia is also represented among the governors of this Council.

Development Committee is engaged in advising and informing the Board of Governors on matters within the competence of this committee.

The Board of Governors has delegated a significant part of its powers to Executive Council(directorate). The scope of his powers is wide: these are political, operational, administrative issues; providing loans to member countries, overseeing their policies regarding exchange rates. The executive committee is responsible for the conduct of the affairs of the IMF.

The Executive Council works on an ongoing basis and meets three times a week. His place of work is at the headquarters of the Foundation in Washington. Consists of 24 executive directors. Of these, 5 are appointed in accordance with the Charter of the United States, Great Britain, Germany, France and Japan, which have the largest quotas in capital. Russia, China and Saudi Arabia are represented by three directors - one from each country, 16 are elected from all other member countries on the basis of geographical affiliation. Appointments and elections of executive directors are held every two years.

The executive board chooses managing director for a five year period. He heads the administrative staff and manages the day-to-day affairs of the Foundation. The Managing Director must be represented by one of the European countries. In the Executive Council, decisions are in most cases taken by consensus.

IMF capital shaped according to the pattern joint-stock company- from the contributions of the states that are members of this organization. For each country, a quota is set in SDRs. Its value is determined depending on the place of the country in the world economy and foreign trade: GDP indicators, volume current operations balance of payments and official gold and foreign exchange reserves.

The size of the quota determines the amount of capital subscriptions received by the country - a member of the Fund, the amount of SDRs at the next distribution of resources and the number of votes of the country in the Fund.

Until 1978, 25% of the country's quotas were paid in gold, and 75% in national currency. Since 1978, instead of gold, payment has been made in reserve assets - SDRs and convertible currencies, the rest of the quota is still paid in national currency.

At least once every five years, quotas are reviewed, which is associated with a change in the role of states in the world economy.

Cash resources The fund is made up of equity and borrowed funds. When the Fund was created, its capital amounted to 7.7 billion US dollars. Thereafter, it increased every five years due to the admission of new countries to the Fund and the growing need for Money ah to help countries in need. In 1998, the Fund's capital was $199 billion. In connection with the expansion of activities, it was decided to further increase it to $288 billion.

To replenish the financial resources, the Fund attracts borrowed funds. To this end, in 1962 between the Foundation and 10 economically developed countries(USA, Germany, Great Britain, Japan, etc.) signed general loan agreements. According to them, the countries participating in the agreements or their central banks open to the Fund credit line on a constantly renewable basis. Initially, the agreements were concluded for four years, but then they were renewed every five years. The credit limit was initially set at 6.5 billion SDRs (8.8 billion dollars), and from December 1983 it was increased to 17 billion SDRs (about $24 billion).

Under these agreements, funds are made available to the Fund as needed to prevent or remedy disturbances in the world monetary system. On loans received, the IMF pays interest and undertakes to repay loans within five years.

In 1997 - 1998 to counter the crisis in the financial sector, the Fund's ability to attract loans was expanded. The IMF has entered into new loan agreements with 25 countries. In accordance with these agreements, the IMF may receive loans from member countries, if necessary, for total amount up to 34 billion SDRs (about $47 billion). This maximum amount funds that the Fund can borrow under both types of agreements. Moreover, in the case of attracting loans, the first source in order of priority should be general agreements. They should also be the main source of borrowing in terms of volume.

To replenish credit resources, the IMF can also receive loans on a bilateral basis, which it did in the 1980s. He received loans from the ministries of finance and central banks of Belgium, Switzerland, Japan, Saudi Arabia and other countries.

The charter allows the Fund to attract loans from private banks, but he did not use this opportunity.

The main activity of the IMF is to provide loans to member countries in need of foreign exchange. At the same time, the Fund deals only with the official bodies of the borrowing countries: with the ministries of finance, treasuries, central banks, stabilization funds.

Loans in foreign currency are provided for the following purposes:

To cover deficits in balance of payments, which actually means replenishment of foreign exchange reserves of state financial bodies and central banks;

To support macroeconomic stabilization and restructuring of the economy, i.e. to cover government spending.

Currency funds can be provided both at the expense of own monetary resources and at the expense of borrowed funds. Lending mechanism is as follows.

In accordance with the terminology used in the Charter of the Fund, the provision of loans from own funds is called a transaction, and at the expense of borrowed funds - an intermediary operation. A country in need of a foreign currency loan or SDR purchases them in exchange for the equivalent amount of its national currency, which is credited to the IMF account in central bank of this country. When the loan matures, the country is required to return to the Fund the foreign currency or SDR received in exchange for its national currency, i.e. actually buy it. Such operations are not credit in their pure form. At its core, these are currency purchase and sale transactions, if borrowed funds are provided at the expense of own resources Foundation. If they are allocated to the borrower at the expense of attracted resources, then in fact the Fund acts as an intermediary: it provides the borrower with an intermediary financial service.

When developing the lending mechanism, it was assumed that all currencies would be subject to uniform demand by the member countries of the Fund, as a result of which national currencies held by the IMF will move from one country to another. And if the national currency of the debtor country, which is held by the IMF, is bought by another country, then this amount is included in the repayment of the debt to the Fund. But in practice it turned out differently. As a rule, countries whose national currencies are non-convertible or are not used in international payments apply to the Fund with requests for loans. Due to the lack of demand for them, they remain in the Fund until they are redeemed by the debtor countries. In fact, this means providing such countries currency funds on credit secured by national currencies.

By general rule established by Part 1 of Article 9 of Law 173-FZ, currency transactions between residents are prohibited. However, the Law provides for exceptions to this rule.

Foreign exchange transactions are allowed for transactions between authorized banks, made by them on their own behalf and at their own expense (Part 2 of Article 9 of Law 173-FZ). The list of foreign exchange transactions carried out under transactions between authorized banks, performed by them on their own behalf and at their own expense is established central bank Russian Federation in accordance with the Instruction of April 28, 2004 No. 1425-U. "The procedure for the implementation of foreign exchange transactions on transactions between authorized banks".

The following currency transactions between residents and authorized banks are carried out without restrictions (Part 3 of Article 9 of Law 173-FZ):

• receipt and repayment of credits and loans, payment of interest and penalties under these agreements;
• depositing residents' funds to bank accounts and receiving residents' funds from bank accounts. Deposits can be both on demand and for a fixed period;
• purchase and sale individuals cash and non-cash foreign currency and checks (including traveler's checks), the nominal value of which is indicated in foreign currency, for the currency of the Russian Federation and foreign currency;
• exchange, replacement of banknotes of a foreign state (group foreign countries);
• acceptance for collection in banks outside the territory of the Russian Federation of cash foreign currency and checks (including traveler's checks), the nominal value of which is indicated in foreign currency, not for the purposes of entrepreneurial activities by individuals;
• payment of commission to authorized banks;
• transactions under contracts with bank guarantees, as well as with the fulfillment by residents of obligations under guarantee and pledge agreements;
• operations with bills of exchange issued by authorized banks;
• other foreign exchange transactions related to banking operations in accordance with the Federal Law of 02.12.1990 N 395-1 "On banks and banking".

Resident individuals are allowed to carry out the following currency transactions in the form of cash payment (Part 3 of Article 14 of Law 173-FZ):

• transfer of foreign currency or foreign valuable papers as a gift from the Russian Federation, a subject of the Russian Federation and (or) a municipality;
• donation currency values spouse and close relatives;
• bequest of currency values ​​or their receipt by inheritance right;
• acquisition and alienation for the purpose of collecting single banknotes and coins;
• transfer without opening bank accounts, foreign currency or the currency of the Russian Federation in an amount not exceeding the equivalent of 5,000 US dollars;
• purchase, exchange, replacement of banknotes of a foreign state (group of foreign states) from an authorized bank or sale of cash foreign currency to an authorized bank;
• acceptance for sending for collection to banks outside the territory of the Russian Federation of cash foreign currency.

If the Law does not allow this operation in cash, then it should be carried out only in non-cash form, for example, using a card account. But those who have been to these stores know that duty-free shops also accept cash. Both stores and customers violate currency laws.

Let's hope that the Draft Law submitted for consideration to the State Duma, which provides for amendments to Law No. 173-FZ, will help to resolve this and other problems of the application of currency legislation. The bill, in particular, provides for allowing settlements without opening an account between resident individuals and duty-free shops.

In addition, the following transactions are allowed between residents:

• between commission agents (agents, attorneys) and principals (principals, principals) when commission agents (agents, attorneys) provide services related to the conclusion and execution of contracts with non-residents on the transfer of goods, the performance of work, the provision of services, the transfer of information and the results of intellectual activity , including exclusive rights to them (clause 3 of part 1 of article 9 of Law 173-FZ);
• under contracts of transport expedition, transportation and chartering (charter) when the forwarder, carrier and charterer provide services related to the transportation of goods exported from the Russian Federation or imported into the Russian Federation, transit transportation of goods through the territory of the Russian Federation, as well as under contracts of insurance of these goods ( clause 4 of part 1 of article 9 of Law 173-FZ);
• with external securities issued on behalf of the Russian Federation, carried out through organizers of trade in the securities market of the Russian Federation, subject to accounting for the rights to such securities in depositories established in accordance with the legislation of the Russian Federation (clause 5 of part 1 of article 9 of Law 173- FZ);

• operations legal entities with external securities, provided that the rights to such securities are recorded in depositories established in accordance with the legislation of the Russian Federation, and settlements are made in the currency of the Russian Federation (clause 6 of part 1 of article 9 of Law 173-FZ);

• Thus, such currency transactions will be allowed for resident individuals. transactions related to the implementation of mandatory payments (taxes, fees and other payments) in federal budget, the budget of the subject of the Russian Federation, local budget in foreign currency in accordance with the legislation of the Russian Federation (clause 6 of part 1 of article 9 of Law 173-FZ).

The situation can be corrected if the State Duma adopts the proposed amendments to the Law 173-FZ, which provide for the permission of a foreign exchange transaction in foreign currency when reimbursing an individual's expenses related to a business trip outside the territory of the Russian Federation, as well as when paying off an unspent advance payment issued in connection with a business trip.

In addition, the project is supposed to allow the following currency transactions between residents:

• transactions related to the payment of income and (or) redemption of external securities;
• operations related to settlements and transfers in the execution of budgets of all levels budget system the Russian Federation in accordance with the budget legislation of the Russian Federation;
• operations involving settlements and transfers for the implementation of the activities of diplomatic missions, consular offices of the Russian Federation and other official representations of the Russian Federation located outside the territory of the Russian Federation;
• transfers by individuals - residents from the Russian Federation in favor of individuals - residents to their accounts opened with banks located outside the territory of the Russian Federation, in amounts not exceeding within one business day through one authorized bank equivalent of 5,000 US dollars at the official rate established by the Central Bank of the Russian Federation on the date of debiting funds from the account of a resident individual.

The most important concepts of the system of currency regulation are the concepts of "resident" and "non-resident", representing the subjects of currency law, carrying out transactions with foreign and national currencies.

TO residents relate:

1. individuals who are citizens of the Russian Federation, with the exception of citizens of the Russian Federation who are recognized as permanent residents of a foreign state in accordance with the legislation of that state;
2. permanently residing in the Russian Federation on the basis of a residence permit provided for by the legislation of the Russian Federation, Foreign citizens and stateless persons;
3. legal limes created in accordance with the legislation of the Russian Federation;
4. branches, representative offices and other subdivisions of residents located outside the territory of the Russian Federation, established in accordance with the legislation of the Russian Federation;
5. diplomatic missions, consular offices of the Russian Federation and other official representations of the Russian Federation located outside the territory of the Russian Federation, as well as permanent missions of the Russian Federation at interstate or intergovernmental organizations;
6. Russian Federation, its subjects, municipalities who act in relations regulated by currency legislation and other regulatory legal acts.

Non-residents- it:

1. individuals who are not citizens of the Russian Federation and have a permanent place of residence outside the territory of the Russian Federation;
2. legal entities established in accordance with the legislation of foreign states and located outside the territory of the Russian Federation;
3. organizations that are not legal entities, created in accordance with the legislation of foreign states and located outside the territory of the Russian Federation;
4. diplomatic missions accredited in the Russian Federation, consular offices of foreign states and permanent representations of these states at interstate or intergovernmental organizations;
5. interstate and intergovernmental organizations, their branches and permanent representations in the Russian Federation;
6. branches, permanent representative offices and other separate or independent structural units non-residents specified in subparagraphs "b" and "c".

Residents are entitled to have accounts in foreign currency both in the Russian Federation and abroad. In accordance with the current Law “On Banks and Banking Activities”, the number of foreign currency accounts opened by residents in authorized banks is unlimited.

Since July 1, 2005, residents have been granted the right to open, without restrictions, accounts (deposits) in foreign currency and banks located on the territory of foreign countries that are members of the Organization for Economic Cooperation and Development (OECD) or the Financial Action Task Force on Money Laundering (FATF) . At the same time, residents are required to notify tax authorities at the place of its registration on opening (closing) such accounts (deposits) no later than one month from the date of conclusion (termination) of the agreement on opening an account (deposit) with a bank located outside the Russian Federation.

In turn, non-residents have the right to open bank accounts (deposits) in foreign currency and Russian rubles in authorized banks on the territory of the Russian Federation. The procedure for opening and maintaining bank accounts (deposits) of non-residents opened on the territory of the Russian Federation is established by the Central Bank of the Russian Federation.

Foreign currency received by resident legal entities is subject to mandatory crediting to their accounts in authorized banks, unless otherwise established by the Central Bank of the Russian Federation.

The relationship between the bank and the owner of a current currency account and a transit currency account is established on the basis of a bank account agreement concluded by the parties.

Currency transactions between residents and non-residents are carried out without restrictions, with the exception of foreign exchange transactions, in respect of which restrictions are established in order to prevent a significant reduction gold and foreign exchange reserves, sharp fluctuations in the exchange rate of the currency of the Russian Federation, as well as to maintain the stability of the balance of payments of the Russian Federation. These restrictions are non-discriminatory in nature and are canceled by the currency regulation authorities as the circumstances that caused their establishment are eliminated.

Currency transactions between residents and non-residents related to non-cash payments are carried out using bank and special accounts. At the same time, currency transactions for which the Bank of Russia has established a requirement to use a special account are carried out only using a special account.

Such transactions include settlements and transfers in the provision of loans and loans in foreign currency by residents to non-residents, as well as in the receipt of loans and loans in foreign currency by residents from non-residents.

special account- a bank account in an authorized bank, either a special section of a depo account, or a special section of a personal account opened by registrars in the register of securities holders for recording rights to securities, used to carry out currency transactions on it in cases established in accordance with currency legislation.

Authorized banks open to residents the following types special bank accounts in foreign currency:

• account "F" is opened for a resident individual, including for settlements and transfers when a non-resident is granted a loan in foreign currency and a resident receives a loan and a loan in foreign currency from a non-resident;
• P1 account is opened for a resident (individual - individual entrepreneur and legal entity), including for settlements and transfers upon receipt of a loan in foreign currency from a non-resident;
• P2 account is opened for a resident (an individual - an individual entrepreneur and a legal entity), including for settlements and transfers when a foreign currency loan is provided to a non-resident.

Authorized banks open to non-residents (individuals and legal entities, including non-resident banks, as well as foreign diplomatic and other official representative offices located in the Russian Federation, international organizations, their branches and representative offices) the following types of special bank accounts in the currency of the Russian Federation:

• account "C" is opened for a non-resident for the purchase from a resident and alienation in favor of a resident of bonds issued on behalf of the Russian Federation, which are domestic securities, including settlements and transfers related to the transfer of these bonds;
• account "A" is opened for a non-resident for the acquisition from a resident and alienation in favor of a resident of shares and investment units of shares investment funds, which are domestic securities, including settlements and transfers related to the transfer of these shares and investment units;
• an “O” account is opened for a non-resident to purchase from a resident and alienate in favor of a resident bonds of residents and non-residents that are domestic securities (with the exception of bonds issued on behalf of the Russian Federation that are domestic securities), including settlements and transfers related to the transfer of these bonds;
• account "B1" is opened to a non-resident for settlements and transfers upon receipt of a loan in the currency of the Russian Federation from a resident; to attract from a resident the currency of the Russian Federation, received from the initial placement (issue) of shares and bonds, which are domestic securities, the issuer of which is a non-resident - the owner of the account "B1", from the issuance by a non-resident - the owner of the account "B1", to the resident of promissory notes that are domestic securities papers;
• account "B2" is opened to a non-resident for settlements and transfers when a resident is granted a loan in the currency of the Russian Federation; for the acquisition of domestic non-equity securities from a resident, including settlements and transfers related to the transfer of domestic non-equity securities; for the alienation in favor of a resident of domestic non-equity securities (with the exception of promissory notes that are domestic securities), including settlements and transfers related to the transfer of these domestic non-equity securities.

Non-residents open the specified special bank accounts in the currency of the Russian Federation in the authorized bank, provided that non-residents' bank accounts in the currency of the Russian Federation are opened or opened in this authorized bank.

All other currency transactions with residents are carried out by non-residents without the use of special accounts.

Settlements and transfers when non-residents provide loans and borrowings in the currency of the Russian Federation to residents for a period of more than three years, as well as settlements and transfers when residents issue bonds that are domestic securities, redemption and payments for which are not expected in the first three years from the date of issue of these bonds are carried out by non-residents without the use of special accounts.

Non-residents make settlements cash currency Russian Federation using bank accounts in the currency of the Russian Federation opened with authorized banks.

When making settlements in cash in the currency of the Russian Federation, non-residents are required to comply with the procedure for cash settlements established for residents by the legislation of the Russian Federation, including the maximum amount of cash settlements between legal entities established by the Bank of Russia.

Currency transactions between residents are prohibited, with the exception of:

1. transactions related to settlements in duty-free shops, as well as with settlements in the sale of goods and the provision of services to passengers along the route of vehicles in international transportation;
2. transactions between commission agents (agents, attorneys) and principals (principals, principals) when commission agents (agents, attorneys) provide services related to the conclusion and execution of agreements with non-residents on the transfer of goods, performance of work, provision of services, transfer of information and results of intellectual property activities, including exclusive rights to them;
3. transactions of legal entities with funds credited in accordance with the currency legislation to accounts (deposits) opened with banks outside the territory of the Russian Federation, with the exception of currency transactions between residents;
4. transactions of individuals not related to the transfer of property and the provision of services on the territory of the Russian Federation, using funds credited in accordance with the currency legislation to accounts (deposits) opened with banks outside the territory of the Russian Federation;
5. operations of resident individuals related to:
   1. transfer of currency valuables as a gift to the Russian Federation, a subject of the Federation and (or) a municipality;
   2. donating currency values ​​to a spouse and close relatives;
   3. bequeathing currency values ​​or receiving them by right of inheritance;
   4. acquisition and alienation by a resident individual for the purpose of collecting single banknotes and coins;
   5. by a resident individual from the Russian Federation and to the Russian Federation without opening bank accounts, carried out in accordance with the procedure established by the Central Bank of the Russian Federation, which may only limit the amount of the transfer, as well as postal transfer;
   6. purchase from an authorized bank or sale to an authorized bank by an individual - a resident of foreign currency in cash, exchange, replacement of banknotes of a foreign state (a group of foreign states), as well as acceptance of cash foreign currency for collection in banks outside the territory of the Russian Federation;
6. operations under contracts of transport expedition, transportation and chartering (charter) when the freight forwarder, carrier and charterer provide services related to the transportation of goods exported from the Russian Federation or imported into the Russian Federation, transit transportation of goods through the territory of the Russian Federation, as well as under contracts of insurance of these goods ;
7. transactions with external securities issued on behalf of the Russian Federation, carried out through the organizers of trade in the securities market of the Russian Federation, subject to the registration of rights to such securities in depositories established in accordance with the legislation of the Russian Federation;
8. operations of legal entities with external securities, provided that the rights to such securities are recorded in depositories established in accordance with the legislation of the Russian Federation, and settlements are made in the currency of the Russian Federation;
9. transactions related to the implementation of mandatory payments (taxes, fees and other payments) to the federal budget, the budget of a subject of the Federation, the local budget in foreign currency in accordance with the legislation of the Russian Federation.

Currency operations on transactions between authorized banks, made by them on their own behalf and at their own expense, are carried out in the manner established by the Central Bank.

Without restrictions, currency transactions are carried out between residents and authorized banks related to;

1. receipt and repayment of credits and loans, payment of interest and penalties under the relevant agreements;
2. depositing funds of residents to bank accounts (in bank deposits) and receiving residents' funds from bank accounts (bank deposits);
3. bank guarantees, as well as with the fulfillment by residents of obligations under guarantee and pledge agreements;
4. acquisition by residents from authorized banks of promissory notes issued by these or other authorized banks, presentation of them for payment, receipt of payment on them, including by way of recourse, collection of penalties on them, as well as alienation by residents of the said promissory notes to authorized banks in the manner prescribed by Federal Law No. 48-FZ of March 11, 1997 “On Transferable and Promissory Notes”;
5. purchase and sale by individuals of cash and non-cash foreign currency and checks (including traveler's checks), the nominal value of which is indicated in foreign currency, for the currency of the Russian Federation and foreign currency, as well as with the exchange, replacement of banknotes of a foreign state (a group of foreign states ), acceptance for sending for collection to banks outside the territory of the Russian Federation of foreign currency in cash and checks (including traveller's checks), the nominal value of which is indicated in foreign currency, not for the purposes of entrepreneurial activities by individuals;
6. payment of commission to authorized banks;
7. other currency transactions classified as banking transactions in accordance with the legislation of the Russian Federation.

Currency transactions between non-residents. Non-residents have the right, without restrictions, to transfer foreign currency among themselves from accounts (from deposits) in banks outside the territory of the Russian Federation to bank accounts (to bank deposits) in authorized banks or bank accounts (bank deposits) in authorized banks to accounts (to deposits) in banks outside the territory of the Russian Federation or in authorized banks.

Non-residents have the right to carry out foreign exchange transactions with domestic securities on the territory of the Russian Federation, subject to the requirements established by the antimonopoly legislation of the Russian Federation and the legislation of the Russian Federation on the securities market, in the manner established by the Central Bank, which may require the use of a special account when making specified foreign exchange transactions.

Currency transactions between non-residents on the territory of the Russian Federation in the currency of the Russian Federation are carried out through bank accounts (bank deposits) opened on the territory of the Russian Federation in the manner prescribed by the currency legislation of the Russian Federation.

The times when you could easily get sued for almost any action with foreign currency, of course, are long gone. But this does not mean that now foreign exchange transactions in Russia can be carried out without any restrictions at all. There are certain rules governing this type of transactions, and they largely depend on whether the participants in the transaction are residents of the Russian Federation or not. Let's consider how currency transactions are regulated depending on the category of the counterparty.

Currency transactions between non-residents.

When both counterparties are non-residents, the law does not impose any special restrictions on foreign currency settlements between them on the territory of the Russian Federation. They must follow only the general requirements of the regulations governing a particular area of ​​the economy. For example, if it is about bank transfers- comply with the law non-cash payments, when buying and selling shares - by regulations on the securities market and antimonopoly legislation.

Currency transactions between residents and non-residents

Such operations can also be carried out without restrictions. the only special requirement is that currency exchange operations can only be carried out through banks that have the appropriate permission from the Bank of Russia. Such credit organizations are called authorized banks.

Currency transactions between residents

Here the situation is more interesting. On the one hand, such operations are prohibited, as stated in Art. 9 federal law No. 173-FZ of December 10, 2003 “On currency regulation and currency control". On the other hand, this same normative act provides for so many exceptions to this rule that it would be more correct to say not about a ban, but about a restriction. Today, the list of exceptions is more than two dozen positions and is updated quite regularly.

The range of foreign exchange transactions that residents of the Russian Federation have the right to carry out among themselves is very wide - from the usual purchase in a Duty Free store or transferring money to relatives abroad to settlements on complex financial instruments- factoring or REPO operations. Among the allowed transactions between residents:

• sale of goods to passengers on international trips;
• transactions under a commission agreement, if the final recipient of the service is a non-resident;
• operations with external securities;
• payment for foreign business trips;
• transfers to diplomatic missions and foreign embassies;
• currency transfers between individuals. At the same time, the limit is set for non-relatives - $ 500. Those who are related to each other can send euros and dollars to each other without restrictions. You can also give and bequeath currency to relatives unlimitedly;
• buying/selling bonds and coins when collecting;
• when settling on clearing, repurchase agreements and derivative financial instruments. In this case, one of the parties to the agreement must be an authorized bank or a professional participant in the securities market;
• repayment of foreign currency loans or opening currency deposits and a number of others.

In this regard, some legislators even express the opinion that such liberal rules in this area threaten the stability of the ruble and a complete ban on currency payments between residents should be introduced.

but this idea appears to be highly controversial. After all, changes in legislation related to the expansion of the list of permitted foreign exchange transactions did not appear just like that, but were dictated by the real needs of economic entities.

Therefore, the introduction of a complete ban on settlements in foreign currency between residents will lead to additional difficulties for businesses, which in the current difficult economic situation would be highly undesirable.

conclusions

Currency transactions on the territory of the Russian Federation between non-residents and between residents and non-residents are not specifically regulated, with the exception of the requirement to make non-cash payments and foreign exchange transactions through authorized banks.

Currency transactions between residents are formally prohibited, but there are many exceptions to this rule, so it would be more correct to say that they are significantly limited.

They are divided into current foreign exchange transactions and foreign exchange transactions related to the movement of capital. Current currency transactions are carried out without any restrictions. Operations on the movement of capital are carried out in the manner determined by the Government of the Russian Federation and the Central Bank of the Russian Federation.

Currency transactions between residents are prohibited, with the exception of: transactions related to settlements in duty-free shops, when selling goods and providing services to passengers en route in international transportation; transactions between commission agents (agents, attorneys) and principals (principals, principals) when rendering) services related to the conclusion and execution of contracts with non-residents on the transfer of goods, the performance of work, the provision of services, the transfer of information and the results of intellectual activity, including exceptional rights to them; operations under contracts of transport expedition, transportation and chartering (charter) when the freight forwarder, carrier and charterer provide services related to the transportation of cargo exported from the Russian Federation or imported into the Russian Federation, transit transportation of cargo through the territory of the Russian Federation, as well as under insurance contracts for these cargoes; transactions with external securities issued on behalf of the Russian Federation, carried out through trade organizers on the securities market of the Russian Federation, subject to the registration of rights to such securities in depositories; operations of legal entities with external securities, provided that the rights to such securities are recorded in depositories established in accordance with the legislation of the Russian Federation, and settlements are made in the currency of the Russian Federation; transactions related to the implementation of mandatory payments to the federal budget, the budget of the subject of the Russian Federation, the local budget in foreign currency.

Currency transactions are carried out without restrictions between residents and authorized banks related to: obtaining and repaying credits and loans, paying interest and sanctions under relevant agreements; depositing residents' funds to bank accounts (deposits) and receiving residents' funds from bank accounts (deposits); acquisition by residents from authorized banks of promissory notes issued by these or other authorized banks, presentation of them for payment, receipt of payment on them, collection of sanctions on them, as well as alienation by residents of the said promissory notes to authorized banks; with the purchase and sale by individuals of cash and non-cash foreign currency and checks, the nominal value of which is indicated in foreign currency, for the currency of the Russian Federation and foreign currency, as well as with the exchange, replacement of banknotes of foreign states, acceptance for collection in banks outside the territory RF cash foreign currency and checks, the nominal value of which is indicated in foreign currency, not for the purposes of entrepreneurial activities by individuals.

Non-residents have the right:

1. without restrictions to carry out transfers of foreign currency among themselves from accounts in banks outside the territory of the Russian Federation to bank accounts in authorized banks or bank accounts in authorized banks to accounts in banks outside the territory of the Russian Federation or in authorized banks;
2. carry out foreign exchange transactions with domestic securities on the territory of the Russian Federation, taking into account the requirements of antimonopoly legislation and legislation on the securities market in the manner established by the Central Bank of the Russian Federation, which may require the use of a special account when performing such transactions.