On Bank of Russia Ordinance No. 3221-U dated 1 April 2014

The Bank of Russia issued Ordinance No. 3221-U dated 1 April 2014 ‘On Amending Bank of Russia Ordinance No. 1606-U dated 11 August 2005 ‘On the Procedure for Handling Documents with which Credit Institutions Operated Prior to State Registration of Changes Made to their Founding Documents, Before State Registration of Credit Institutions Established as a Result of Reorganisation, and Prior to the Replacement of their Banking Licences’ registered with the Ministry of Justice of the Russian Federation on 23 May 2014, registration No. 32413 (the Ordinance).

The Ordinance introduces changes to Bank of Russia Ordinance No. 1606-U dated 11 August 2005 connected with the establishment of the Systematically Important Banks Supervision Department of the Bank of Russia and changes in the territorial structure of the Bank of Russia.

In particular, credit institutions supervised by the Systematically Important Banks Supervision Department are enabled to choose to receive documents registered with the Bank of Russia in the Credit Institutions Licensing & Financial Rehabilitation Department of the Bank of Russia or in its territorial division.

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