On the procedure for the Bank of Russia to take the decision to grant the status of a bank to the non-bank credit

The Bank of Russia issues Ordinance No. 3222-U, dated 1 April 2014, ‘On the Procedure for the Bank of Russia to Take the Decision to Grant the Status of a Bank to the Non-Bank Credit Institution’ registered with the Ministry of Justice of the Russian Federation on 7 August 2014, Registration No. 33472 (hereinafter, the Ordinance).

The Ordinance is a new version of Bank of Russia Ordinance No. 1292-U, dated 19 June 2003, ‘On the Procedure for Presenting Documents by a Non-Bank Credit Institution to the Bank of Russia for the Latter to Take the Decision to Grant to the Non-Bank Credit Institution the Status of a Bank’ recognised as null and void.

The Ordinance determines the procedure for the Bank of Russia to take the decision to grant the status of a bank to the non-bank credit institution (conditions for the non-bank credit institution to be granted with the status of a bank, the list of documents, procedure and terms for their consideration).

Besides, the Ordinance establishes the procedure for the credit institution to be granted with the right to attract household deposits simultaneously with the status of a bank, the document provides for the technical changes arising from the establishment of the Systematically Important Banks Supervision Department and the change of the Bank of Russia territorial structure.

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13.08.2014 00.00.00