Capital Flow Measures

This page contains frequently asked questions and answers regarding Rules no. 490/2016 on special reserve requirements for new foreign currency inflows from 4 June 2016, amended with Rules no. 537/2016 on 15 June 2016.

Please note that this information is subject to changes on laws and rules on foreign exchange.

Update in process.

 

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  • Purpose of the Rules

  • Rules no. 490 of 4 June 2016

  • Does the term “entity” in the English translation of the Rules refer to legal entities only, or does it include individuals?

  • What is ledger code 24?

  • What is a capital flow account?

  • How is the special reserve amount calculated?

  • How long is the holding period?

  • How are new inflows defined under Rules no. 490/2016?

  • Are balances on Code 24 accounts exempt from the so-called bank tax?

  • Are balances on Code 24 accounts exempt from conventional reserve requirements?

  • What is the settlement currency for the special reserve amount and the corresponding amount in capital flow accounts?

  • How may owners of special reserve amounts dispose of these funds at the end of the 12-month holding period?

  • How is the special reserve requirement created?

  • How is the notification requirement for new inflows handled?

  • Where shall notification of the disposal of new inflows be sent?