In accordance
with the amendments, there is provided prolongation of the period
of validity of the mechanism for compensation by the Bank of
Russia of a part of losses to credit institutions, which arose
on deals with other credit institutions made from the day of
putting into effect of
the Federal Act N 173-FZ of October 13, 2008 and before
December 31, 2010 inclusive, which license for making banking
operations was recalled, up to December 31, 2010.
The present Federal Act is putted into
effect since the day of its official publication (has been published
in the Russian Newspaper N 226, 27.11.2009).
There is changed the period, up to which the Bank of Russian has the right to put restrictions on size of interest rate, which a credit institution determines in contracts of banking deposits
The amendments,
putted by the Federal Act N 280-FZ of November 25, 2009 (document
is in Russian), establish the period - up to December 31, 2010,
up to which, in the case of not execution of directions about
elimination of violations detected in a credit institution activity
during the period established by the Bank of Russia, the Bank
of Russia has the right to put restrictions on size of interest
rate, which a credit institution determines in contracts of
banking deposits concluding (prolonging) during the period of
restriction, in the form of maximum size of interest rate for
the period up to one year.
The Federal Act shall put
into effect since the day of its official publication. (Has
been published in the Russian Newspaper N 226, 27.11.2009).
