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The Bank of Russia has published a series of detailed requirements regarding remuneration systems at credit institutions, with particular regard to remuneration paid to individuals who assume risk. The Instruction contains a list of individuals that assume risks and requirements regarding the structure of their remuneration, risk assessment with regard to remuneration itself, and the possibility to adjust and cancel deferred remuneration.
The Instruction will come into effect on 1 January 2015, and related inspections will begin in October 2015.