OREANDA-NEWS  The loss of banks, which reached 1.5 trillion rubles in the first half of the year, has decreased significantly, said Alexander Danilov, director of the Central Bank's Banking Supervision Department.

By the end of the year, the Central Bank will make a recommendation to Russian banks to resume publishing regular RAS reports from January 2023, while their losses have decreased, Alexander Danilov, director of the Banking Supervision and Analytics Department of the Bank of Russia, told reporters during the Finopolis forum, RBC correspondent reports.

"We will definitely [give a recommendation] by the end of the year. We want it to be revealed from the new year," Danilov said. According to him, credit institutions will have to return to mandatory disclosure of financial statements according to Russian standards, the publication of IFRS reports will be the "right of banks" for now. The requirements for banks on the list of provided reporting forms will also be adjusted.