Provision of secured loans through extended functionality of electronic document flow under Bank of Russia operations

From 25 September 2017, the Bank of Russia will give credit institutions with basic accounts at its Main Branch for the Central Federal District (hereinafter — the Main Branch) and Main Branch divisions the opportunity to make use of electronic document flow when applying to the Bank of Russia for secured loans. Previously, this option was only open to credit institutions with basic accounts at Main Branch divisions located in Moscow and the Moscow Region.

There are plans to extend the practice of using electronic document flow to all credit institutions irrespective of the servicing BoR division’s location.

Credit institutions concluding additional agreements for electronic message transfer concurrently with the transfer of funds (within the BoR payment system) are now able to submit the following documents to the Market Operations Department:

— applications to take part in the BoR credit auction / applications for a BoR fixed interest rate loan

— applications for the reclassification of securities from the section ‘Blocked by the Bank of Russia’ to the principal section / a subsection in ‘Blocked by the Bank of Russia’.

Format requirements for the above documents, as well as terms and conditions for transfer can be found on the Bank of Russia website.

Any technical issues related to the use of electronic document flow should be addressed to the BoR Interregional Information Processing Centre.

The reference to the Press Service is mandatory if you intend to use this material.