On Bank of Russia Ordinance No. 3289-U dated 20 June 2014 

The Bank of Russia issued Ordinance No. 3289-U, dated 20 June 2014, ‘On the Requirements to the Accounting of Monetary Claims Pledged on Bonds and Amounts of Money Credited to the Pledged Account’ (hereinafter, the Ordinance) registered with the Ministry of Justice of the Russian Federation on 25 July 2014.

The Ordinance provides for the procedure for accounting monetary claims for issuers, credit and service institutions through keeping a register and establishes requirements for keeping the register.

The Ordinance determines the procedure for accounting monetary claims pledged on bonds:

— of the service institution;

— of the bond issuer;

— of the credit institution with which the pledged account is open.

The Ordinance introduces a definition of the service institution as an institution, including a credit one, acting on the basis of the agreement with the bond issuer.

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28.07.2014 00.00.00