On Bank of Russia Ordinance No. 4106-U of 23 August 2016

The Bank of Russia issued Ordinance No. 4106-U, dated 23 August 2016, ‘On the Procedure for a Free Transfer of Credit Histories to Credit History Bureaus on a Competitive Basis’, registered by the Russian Ministry of Justice on 3 November 2016, registration number 44247.

Bank of Russia Ordinance No. 4106-U defines the procedure for a free transfer of credit histories from a liquidated (reorganised, struck off the state register of credit history bureaus) credit history bureau stored in the Central Catalog of Credit Histories to a credit history bureau, included in the state register of credit history bureaus, on a competitive basis when repeated biddings were called off.

Bank of Russia Ordinance No. 4106-U envisages a tender to be held no earlier than two months after credit histories have been transferred for storage to the Central Catalog of Credit Histories and also establishes the procedure for determining the tender winner.

Starting the day Bank of Russia Ordinance No. 4106-U becomes effective, currently effective Federal Financial Markets Service Order No. 05-88/pz-n, dated 22 December 2005, ‘On Approving the Procedure for Holding a Tender for a Free Transfer of Credit Histories’ registered by the Russian Ministry of Justice on 14 February 2006, registration number 7493 (Bulletin of Regulations of Federal Executive Bodies, dated 6 March 2006, No. 10) will no longer apply.

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