On maintaining the register of agreements concluded on master agreement terms

The Bank of Russia issued Ordinance No. 3382-U, dated 17 September 2014, ‘On Amending Bank of Russia Ordinance No. 3253-U, Dated 30 April 2014, ‘On the Procedure for Maintaining the Register of Agreements Concluded on Terms of a Master Agreement (Single Agreement), Timeframes for Providing Information Necessary for Maintaining the Said Register and Information from the Said Register, and Submitting the Register of Agreements Concluded on Terms of a Master Agreement (Single Agreement) to the Central Bank of the Russian Federation (Bank of Russia)’ (hereinafter, Bank of Russia Ordinance).

The Ordinance stipulates:

— a range of legal entities set up in compliance with Russian Federation legislation, which are liable to provide information on the agreements concluded on terms of a master agreement (single agreement) to a repository;

— the liability of providing to a repository information on the financial derivative contracts concluded on the basis of a master agreement from 1 April 2015;

— the requirement that information provided to a repository should contain legal entity identifier (LEI) from 1 July 2015, and for newly concluded agreements on rendering repository services — from 1 January 2015.

The document also envisages some other amendments.

The Ordinance comes into effect on 1 October 2014.

Currently, the Bank of Russia’s Ordinance has been submitted to the Ministry of Justice of the Russian Federation for state registration.

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17.09.2014 00.00.00