On Bank of Russia Ordinance No. 4150-U, dated 10 October 2016

The Bank of Russia issued Ordinance No. 4150-U, dated 10 October 2016, ‘On the Procedure for Placing Credit Histories in the Central Catalogue of Credit Histories for Safekeeping’ (hereinafter, Bank of Russia Ordinance No. 4150-U) registered with the Ministry of Justice of the Russian Federation on 14 November 2016, registration No. 44332.

Bank of Russia Ordinance No. 4150-U sets the procedure for placing credit histories in the Central Catalogue of Credit Histories for safekeeping in the following cases:

reorganization of a credit history bureau (hereinafter, Bureau), where its successor is not listed in the state register of credit history bureaus (hereinafter, the Register);

voluntarily liquidation of a Bureau;

liquidation of a Bureau after it has been recognised insolvent (bankrupt);

striking off the entry on a Bureau from the Register upon the court order in line with part 10 of Article 15 of Federal Law No. 218-FZ, dated 30 December 2004, ‘On Credit Histories’.

The moment Bank of Russia Ordinance No. 4150-U comes into force, it will invalidate now effective Order of the Federal Financial Markets Service of the Russian Federation No. 06—133/pz-n, dated 23 November 2006, ‘On Approving the Procedure for Placing Credit Histories in the Central Catalogue of Credit Histories for Safekeeping’, registered with the Ministry of Justice of the Russian Federation on 22 December 2006, registration No. 8662 (Bulletin of regulations of federal executive bodies No. 4, dated 22 January 2007).

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