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News of the Federal Legislation

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News of the Federal Legislation


The refinancing rate has been decreased
2009-04-23 08:00

NEWS OF THE FEDERAL LEGISLATION

The refinancing rate has been decreased

The Direction of the RF Central Bank N 2222-U of April 23. 2009 (document is in Russian) has decreased the refinancing rate of the Bank of Russia from 13 to 12,5 percent pen annum since April 24, 2009.

There is changed the procedure for submission of unsecured credits to Russian credit institutions by the Bank of Russia
2009-04-23 08:00

NEWS OF THE FEDERAL LEGISLATION

There is changed the procedure for submission of unsecured credits to Russian credit institutions by the Bank of Russia

The Direction of the Bank of Russia N 2202-U of March 23, 2009 (document is in Russian) has made the amendments to the Statute of the Bank of Russia N 323-P "On submission of unsecured credits to Russian credit institutions by the Bank of Russia" of October 16, 2008 (document is in Russian). In particular there are given in the new wording clause 6 concerning calculation of limit on credit risk and clause 8 establishing the procedure for carrying out a credit auction. Besides there is established that credit contracts may be concluded only at availability of the Bank of Russia' right to write monetary funds off credit institutions correspondent accounts opened in subdivisions of the settlement network of the Bank of Russia or in the "Non-banking credit institution closed joint-stock company "Settlement chamber of the Moscow inter-banking currency exchange".


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