According to the law, from 1 July 2016 shall establish a uniform size of authorized capital for newly registered non-Bank credit organizations in the amount of 90 million rubles. Similar minimum size will be installed and in respect of own funds of NGO.
MOSCOW, 29 Dec. The President of Russia Vladimir Putin signed a law establishing the minimum Charter capital to 90 million rubles for all non-Bank credit organizations (NGOs), with the exception of the Central counterparty.
Now the minimum size of authorized capital for newly registered NGOs is in the range from 18 to 90 million rubles depending on the form of licenses. The law of 1 July 2016 is set by a single amount of capital for newly registered NGOs — 90 million rubles.
Similar minimum size will be installed from 1 July 2016 in respect of own funds of NGO. This sets three-year transition period (until 1 July 2019) for NGOs, which had on July 1, 2016 equity (capital) in the amount of 90 million rubles.
Legislatively secured a new type of non-Bank credit institution — the Central counterparty. The Central counterparty may act as the legal entity that is a party to the concluded agreements, the obligations of which are subject to inclusion in clearing pool of licensed non-Bank credit institution for banking operations and license for the clearing activities.
A Central counterparty, quality control which will be recognized as the Central Bank is satisfactory, will be able to obtain the status of qualified Central counterparty. The minimum size of authorized capital for newly registered Central counterparty shall be 300 million rubles. Similar minimum size is provided and in respect of its own funds.
Head credit institution of a banking group will be required to disclose quarterly interim consolidated financial statements, information about accepted risks, the procedures for their assessment, risk management and capital. Now such information is disclosed once a year. Quarterly reports will be provided, starting with the statements for the first quarter of 2016.
On January 1, 2017 tolerated a period set by the Bank of Russia the maximum risk associated with the credit organization the person (the group associated with the credit institution).
