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News of the Federal Legislation


The amendments are made to organization of inspection activity of the Bank of Russia
2008-10-06 08:00

NEWS OF THE FEDERAL LEGISLATION

The amendments are made to organization of inspection activity of the Bank of Russia

The Direction of the Bank of Russia N 2076-U of September 24, 2008 (document is in Russian) makes amendments to the Instruction of the Bank of Russia N 108-I "On organizing inspection activity of the RF Central Bank (Bank of Russia)" of December 1, 2003 (document is in Russian). In particular, there are excluded mentions of inspection on examination certain banks and its head inspector, there is changed organization and coordination of inspection examinations of certain credit institutions, there is excluded the provision about direction of the Summary plan to territorial institutions of the Bank of Russia and heads inspectors of interregional inspections by the Head inspection at planning of examinations.

This Direction shall put into effect upon expiration of 10 days from the day of its official publication in the " News Bulletin of Russia".

The amendments are made to the specific features of carrying out of direct REPO with credit institutions by the Bank of Russia
2008-10-06 08:00

NEWS OF THE FEDERAL LEGISLATION

The amendments are made to the specific features of carrying out of direct REPO with credit institutions by the Bank of Russia

The Direction of the Bank of Russia N 2070-U of September 23, 2008 (document is in Russian) makes amendments to the Direction of the Bank of Russia N 1365-U "On specifics of performance by the Bank of Russian of operations of direct REPO with credit institutions" of December 30, 2003 (document is in Russian).

There are changed the requirements of the Bank of Russia to Dealers/Investors: he should be referred to 1, 2 or 3 classification group in accordance with the Direction of the Bank of Russia N 2005-U "On evaluation of economical position of banks" of April 30, 2008 (document is in Russian). With a Dealer/Investor of 4 or 5 classification group, direct REPO transactions shall be carried out under decision of the Bank of Russia Committee on monetary and credit policy.

In the Contract of carrying out direct REPO transactions, the Bank of Russia requisites of accounts are changed for payment of a penalty and rest liability sums. At that there is established that in the case of their following changes, the Bank of Russia should to send information about them to a Dealer in written during 20 working days.
 
This Direction shall put into effect since the day of its official publication in the " News Bulletin of Russia".


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