The Federal Reserve did not present convincing reasons to exempt banks from contributing to the federal budget. The governor explained that a one-time levy should fall on credit institutions that do not rely on regulatory facilitation. This was stated at a Friday press briefing on the topic, reported by TASS.
In explaining the banks’ contribution to the budget, officials noted there were no solid grounds to grant exceptions from the general rule. The only caveat mentioned was that banks moving under the general rules would be the ones that do not use the federal regulatory relaxation measures that have been part of the political conversation about support for the industry.
Earlier reports in the media indicated that Sberbank had already introduced the option to fulfill the 2023 budget contribution. The discussion surrounding the one-time contribution has been prominent in public discourse as part of broader fiscal strategies and the expectations of state policy toward financial institutions.
Former Finance Minister Anton Siluanov suggested that entrepreneurs should not withhold funds for the one-time contribution, arguing that the money would eventually be returned. This perspective reflects a broader insistence on visible fiscal solidarity and the belief that the contribution serves as a temporary measure tied to the year’s economic priorities.
At the start of February 2023, First Deputy Prime Minister Andrei Belousov announced ongoing government engagement with business on a voluntary, one-time contribution. The goal, as described by officials, was to align private sector participation with national financial needs while preserving the stability of the financial system and avoiding unnecessary disruption to business activity. This stance has continued to shape the dialogue between regulators, banks, and policymakers as the budget-year plans evolved and more details were discussed in public forums.