On delegation of Bank of Russia regional branches’ powers to register credit institutions and issue banking licences to the Bank of Russia’s head office

As part of the Bank of Russia’s efforts to centralise its powers to register credit institutions and issue banking licences, the Bank of Russia issued Order No. OD-22087, dated 24 July 2017, ‘On the Procedure for Delegation of Bank of Russia Regional Branches’ Powers to Register Credit Institutions and Issue Banking Licences to the Bank of Russia’s Head Office’, further referred to as the Order.

In keeping with Clause 1.6 of Bank of Russia Instruction No. 135-I¹ (further referred to as Instruction No. 135-I), the Order provides for the delegation to the Bank of Russia’s head office (Department for Market Access and Activity Termination of Financial Institutions) of the powers, currently entrusted to Bank of Russia regional branches, related to state registration of credit institutions, newly established or reorganised, state registration of amendments to credit institutions’ charters and issue of banking licences authorising credit institutions to diversify their businesses.

The Order establishes a procedure and a timeframe for Bank of Russia regional branches to transfer to the Department for Market Access and Activity Termination of Financial Institutions the relevant packages of documents they are handling at the date of the Order.

Under the Order, the transfer of packages of documents to the Department for Market Access and Activity Termination of Financial Institutions shall be effected irrespective of the handling procedures for obtaining endorsement of the charter (amendments to the charter) on the title page of the charter, as well as irrespective of bank details used to pay state duty.

At the same time, credit institutions and founders of newly established credit institutions are advised as follows. After the date of the Order, the package of documents referred to in the second paragraph above shall be sent to the Bank of Russia’s Department for Market Access and Activity Termination of Financial Institutions and state duty shall be paid against the bank details posted on the Bank of Russia website (‘Bank Details of the Bank of Russia’s Head Office’ / ‘Bank Details’ /‘Administration of Individual Revenue Categories’/‘National Payment System’).

¹ Bank of Russia Instruction No. 135-I, dated 2 April 2010, ‘On the Bank of Russia’s Decision Making Procedure for the State Registration and Licensing of Credit Institutions’.

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

25.07.2017 00.00.00