On Bank of Russia Ordinance No. 3961-U, dated 15 February 2016

Bank of Russia issued Bank of Russia Ordinance No. 3961-U, dated 15 February 2016, ‘On Amending Bank of Russia Ordinance No. 3219-U, Dated 31 March 2014, ’On the Procedure for the Bank of Russia to Make a Decision on the State Registration of Amendments to a Credit Institution’s Charter and on Issuing a Banking Licence Due to a Change in a Credit Institution’s Status from a Bank to a Non-bank Credit Institution or Due to a Change in the Type of a Non-bank Credit Institution’. The ordinance was registered by the Ministry of Justice of the Russian Federation on 4 March 2016, registration No. 41319.

Bank of Russia Ordinance No. 3961-U specifies the existing rules and envisages that prior to submission of the documents to the Bank of Russia for the state registration of amendments to the charter (inter alia prior to the meeting of the authorised management body of a credit institution to approve the change in the status from a bank to a non-bank credit Institution) a credit institution may submit solely the draft documents for preliminary review to the Bank of Russia.

Besides, Bank of Russia Ordinance No. 3961-U supersedes references to the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ by the ones to the Federal Law ’On the Insolvency (Bankruptcy)’.

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

16.03.2016 00.00.00