There are extended the authorities
of the Bank of Russia on making operations with securities at
open market: now there is permitted purchase and sale of stocks
under conditions of reverse transaction, sale of securities
being as secure of the Bank of Russia credits and purchase and
sale pf other securities determined by a decision of the Board
of Directors of the Bank of Russia. In accordance with that,
the Board of Directors is granted the right to make decisions
about composition, procedure and periods for disclosure information
on transactions made by the Bank of Russia at stock exchange
market, and annual reports of the Bank of Russia is added with
the report about transactions value.
There is established
that the Bank of Russia has no right to participate in capitals
of credit institutions, at that this provision shall not be
applied to participation of the Bank of Russia in the capital
of the RF Saving Bank.
There has been adopted the Federal Act on additional measures for forcing the banking system stability
The Federal Act of the Russian Federation N 175-FZ of October
27, 2008 (document is in Russian) establishes the measures
for preventions bankruptcy of banks in the purposes of forcing
the banking system stability. There is determined that these
measures shall be provided by the State corporation "Agency
on deposits insurance", and to them there are referred:
- rendering financial aid to investors acquiring banking stocks
in the size allowing to determine decisions of the bank on questions
referred to the competence of general meeting of its founders,
or acquiring property and obligations of the bank or a part
of them;
- acquisition of banking stocks by the Agency in
the size allowing to determine decisions of the bank on questions
referred to the competence of general meeting of its founders;
- rendering financial aid to a bank under condition of
acquisition of banking stocks by the Agency or investors;
- organization of auctions on sale of property being as secure
of execution of banking obligations;
- execution of functions
of temporary administration on the basis of the Bank of Russia
decisions.
There is established the procedure for providing
of this measures and there is determined that implementation
of them shall be made for funds of investors, the Agency, the
Bank of Russia, as well as for the federal budget funds submitted
as property in-payment of the Russian Federation to the property
of the Agency.
The Federal Act shall putt into effect since the day of
its official publication and shall be valid up to December 31,
2011 inclusively.
- 4,75 percent per annum
on transactions on conditions "tom-nest", "spot-next"
, "on call";
- 5,25 percent per annum on transactions
on conditions "one week", "spot-week".
The direction shall put into effect upon the day of its
signature and is subject for official publication in the "
News Bulletin of the Bank of Russia".
