Bank of Russia Bulletin released

Bank of Russia Bulletin No. 70 (2122) of 30 October 2019 has been released.

The new issue provides information on the decision approved by the Bank of Russia Board of Directors to reduce the key rate by 50 bp to 6.50% p.a.; on including securities in the Lombard List; on raising the requirements for the minimum credit rating for securities to be included in the Lombard List; on increasing the requirements for minimum credit ratings for the purpose of creating the Register and the List of Refinancing Eligible Entities.

The Cash Circulation section presents information on counterfeit money revealed in the Russian banking system in 2019 Q3.

The Credit Institutions section contains a review of the key indicators of the domestic foreign cash market in August 2019.

The issue also lists credit institutions which comply with the requirements of Russian Federation Government Resolutions No. 706, dated 20 June 2018, No. 1121, dated 24 December 2011, and No. 1232, dated 7 October 2017, as of 1 October 2019.

The Bulletin publishes the following Bank of Russia orders:

No. OD-2468, dated 25 October 2019, on the termination by the Fund of Banking Sector Consolidation Asset Management Company of the functions of the provisional administration to manage the Moscow-based bank PJSC MInBank;

No. OD-2474, dated 25 October 2019, on amending the Appendix to Bank of Russia Order No. OD-475, dated 7 March 2019.

The Non-bank Financial Institutions section contains the following Bank of Russia orders:

No. OD-2435, dated 22 October 2019, on the revocation of the insurance licences from the East-Siberian Railway Joint-stock Insurance Company;

No. OD-2466, dated 24 October 2019, on suspending the insurance broker licence of TISS Insurance Broker Ltd.;

No. OD-2467, dated 24 October 2019, on the revocation of the insurance broker licence from Eklektika Insurance Broker Ltd.;

No. OD-2481, dated 27 October 2019, on the revocation of the insurance licences from JSC Sterkh Insurance Company;

No. OD-2482, dated 27 October 2019, on appointing the provisional administration to JSC Sterkh Insurance Company;

No. OD-2496, dated 28 October 2019, on amending the Appendix to Bank of Russia Order No. OD-1839, dated 8 August 2019.

The issue presents consolidated data on financial market sectors and information notices by the Bank of Russia.

The Official Documents section publishes the following materials:

Bank of Russia Regulation No. 688-P, dated 16 July 2019, ‘On the Procedure for and Specifics of Insurance Portfolio Transfers, the Procedure and Conditions for Compensating for Asset Deficiency by Professional Insurance Associations, the Procedure for Coordinating Insurance Portfolio Transfers with the Bank of Russia in the Cases Specified in Clause 1 of Article 1849 of the Federal Law ‘On Insolvency (Bankruptcy)’, the Requirements for the Content of Insurance Portfolio Transfer Agreements and Insurance Portfolio Transfer and Acceptance Certificates’ (becomes effective 10 days after its official publication; posted on the Bank of Russia website on 25.10.2019);

Bank of Russia Ordinance No. 4832-U, dated 21 June 2018, ‘On the Non-application of Resolution of the Federal Securities Market Commission No. 46, Dated 10 November 1998, ‘On the Approval of the Regulation on the Procedure for Termination of Nominal Securities Holders’ Functions’ (becomes effective 10 days after its official publication; posted on the Bank of Russia website on 23.10.2019);

Bank of Russia Ordinance No. 4834-U, dated 21 June 2018, ‘On Invalidating Bank of Russia Ordinance No. 588-U, Dated 25 June 1999, ‘On the Procedure for Termination of Credit Institutions’ Depository Activities’ (becomes effective 10 days after its official publication; posted on the Bank of Russia website on 23.10.2019);

Bank of Russia Ordinance No. 5220-U, dated 30 July 2019, ‘On the Requirements for Terminating Obligations under Depository Agreements by Entities Whose Depository Activity Licences of Professional Securities Market Participants Have Been Cancelled by the Bank of Russia, and the Requirements for Depository Activities and for Keeping the Register of Securities Holders in the Case of Termination of Obligations under Depository Agreements’ (becomes effective 10 days after its official publication; posted on the Bank of Russia website on 23.10.2019);

Bank of Russia Ordinance No. 5267-U, dated 26 September 2019, ‘On Amending Bank of Russia Ordinance No. 4777-U, Dated 19 April 2018, ‘On the Form, Timeframe and Procedure for a Specialised Depository to Compile and Submit Statements to the Bank of Russia; on the Form, Timeframe and Procedure for a Specialised Depository to Submit Statements to an Insurer; and on the Form and Timeframe for a Specialised Depository to Submit Statements to a Management Company Engaged in the Trust Management of Servicemen Housing Savings and to an Authorised Federal Executive Body in Charge of the Savings and Mortgage System of Housing Provision for Servicemen’ (becomes effective 10 days after its official publication; posted on the Bank of Russia website on 25.10.2019).

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