Association of Russian Banks (ARB) is a non-governmental non-commercial organization that unites commercial banks and other credit organizations, as well as organizations involved in the functioning of finance-and-credit system of the Russian Federation. At the initiative of Deutsche Bank the Derivatives Committee of the Association of Russian Banks is established.
The Committee is operating through its two working groups, Legal and Tax & Accounting.
The ARB Derivatives Committee is operating through its two working groups, Legal and Tax & Accounting.
The Legal group is charged with preparation of proposals to amend the Civil Code and Bankruptcy Law provisions on derivative instruments, with preparation of a standard contractual base related to derivative securities, development of standard operation with derivatives in the off-the-board market.
The Tax & Accounting group is charged with preparation of description of specifics of taxation of derivative transactions, with drafting of standard agreements related to transactions in the derivatives’ market, description of financial statements’ requirements and taxation of transactions with derivatives