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Ministry of Justice

Russian Federation

On December 13, 2005 No. 7266

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 11, 2005 No. 126-I

About procedure for relations management, the measures for the prevention of insolvency (bankruptcy) of credit institutions connected with implementation

(The last edition from 03-07-2015)

This Instruction is developed according to the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" (The Russian Federation Code, 2002, No. 43, Art. 4190; 2004, No. 35, Art. 3607; 2005, No. 1, Art. 18, Art. 46; No. 44, Art. 4471; 2006, No. 30, Art. 3292; No. 52, Art. 5497; 2007, No. 7, Art. 834; No. 18, Art. 2117; No. 30, Art. 3754; No. 41, Art. 4845; No. 49, Art. 6079; 2008, No. 30, Art. 3616; No. 49, Art. 5748; 2009, No. 1, Art. 4, Art. 14; No. 18, Art. 2153; No. 29, Art. 3632; No. 51, Art. 6160; No. 52, Art. 6450; 2010, No. 17, Art. 1988; No. 31, Art. 4188, Art. 4196; 2011, No. 1, Art. 41; No. 7, Art. 905; No. 19, Art. 2708; No. 27, Art. 3880; No. 29, Art. 4301; No. 30, Art. 4576; No. 48, Art. 6728; No. 49, Art. 7015, Art. 7024, Art. 7040, Art. 7061, Art. 7068; No. 50, Art. 7351, Art. 7357; 2012, No. 31, Art. 4333; No. 53, Art. 7607, Art. 7619; 2013, No. 23, Art. 2871; No. 26, Art. 3207; No. 27, Art. 3477, Art. 3481; No. 30, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6975, Art. 6979, Art. 6984; 2014, No. 11, Art. 1095, Art. 1098; No. 30, Art. 4217; No. 49, Art. 6914; No. 52, Art. 7543; 2015, No. 1, the Art. 10, the Art. 35, "The official Internet portal of legal information" (www.pravo.gov.ru), on June 30, 2015) (further - the Federal Law) and the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, N 28, Art. 2790; 2003, N 2, Art. 157; N 52 (part I), Art. 5032; 2004, N 27, Art. 2711; N 31, of Art. 3233; 2005, N 25, Art. 2426; N 30, of the Art. 3101) also establishes procedure for relations management, the measures for the prevention of insolvency (bankruptcy) of credit institutions connected with implementation.

Chapter 1. General provisions

1.1. Action of this Instruction does not extend on:

procedure for appointment of temporary administration on management of credit institution (further - temporary administration);

procedure for reduction in compliance of the size of the authorized capital and size of own means (capital) of credit institution.

1.2.  No. 3709-U voided according to Specifying of the Central bank of the Russian Federation of 03.07.2015

Chapter 2. Interaction of credit institution with the Bank of Russia in case of independent implementation of measures for the prevention of bankruptcy

2.1. In case of the bases for implementation of measures for the prevention of bankruptcy, the stipulated in Article 189.10 Federal Laws, the credit institution, her founders (participants), board members (supervisory board), its sole executive body and collegiate executive body shall take necessary and timely measures on financial improvement and (or) reorganization of credit institution.

2.2. The credit institution which is independently performing measures for the prevention of bankruptcy shall inform the territorial office of the Bank of Russia exercising supervision of its activities (further - territorial office of the Bank of Russia), or the Department of supervision of systemically significant credit institutions of the Bank of Russia exercising supervision of its activities (further - Department of supervision of systemically significant credit institutions of the Bank of Russia), on emergence of the bases and the taken measures for the prevention of bankruptcy in the following procedure.

2.2.1. The sole executive body of credit institution (further - the head of credit institution) in time no later than 5 calendar days from the date of the direction to the board of directors (supervisory board) of credit institution of the petition for implementation of measures for financial improvement or the petition for reorganization of credit institution shall provide to territorial office of the Bank of Russia or Department of supervision of systemically significant credit institutions of the Bank of Russia the notice on the direction of the corresponding petition constituted in any form with the list of the proposed measures.

The direction of the specified petitions is performed according to requirements of Items 1 and 2 of article 189.19 of the Federal Law.

2.2.2. According to Item 3 of article 189.19 of the Federal Law the solution of the board of directors (supervisory board) of credit institution according to the petition directed by the head of credit institution shall be accepted within 10 calendar days from the date of its direction.

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