INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of June 19, 2017 No. 4419-U

About procedure Bank of Russia of observation of the central partners

This Instruction based on parts 2.1 and 2.2 of article 25 of the Federal Law of February 7, 2011 No. 7-FZ "About clearing, clearing activities and the central partner" (The Russian Federation Code, 2011, No. 7, Art. 904; No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 53, Art. 7607; 2013, No. 30, Art. 4084; 2014, No. 11, Art. 1098; 2015, No. 27, Art. 4001; No. 29, Art. 4357; 2016, No. 1, of the Art. 23, the Art. 47) (further - the Federal Law "About Clearing, Clearing Activities and the Central Partner") establishes procedure the Bank of Russia of observation of the central partners.

1. Within implementation the Bank of Russia on permanent basis makes observations of the central partners monitoring by means of information collection about activities of the central partners, including information on individual quantitative and (or) qualitative indexes of activities of the central partners, information containing in internal documents of the central partners and also on the new services planned by the central partners to implementation (further - information on activities of the central partners), and the analysis of the specified information.

1.1. Information collection about activities of the central partners is performed by the Bank of Russia within competence, stipulated in Item 3 parts 2 and part 4 of article 25 of the Federal law "About Clearing, Clearing Activities and the Central Partner".

1.2. Information analysis about activities of the central partners is performed by the Bank of Russia for the purpose of enhancement by the central partners of the activities and (or) development of the central partners in the following directions:

identification of risks of the central partners, including risks which realization can lead to loss of financial stability of the central partners, violation of going concern of the central partners and (or) other adverse effects which can result in lack of possibility of implementation of activities of the central partners (further - risks of the central partners);

the analysis of the measures taken by the central partners for the purpose of enhancement of the activities and (or) the development (further - measures) on the basis of the recommendations about change of activities of the central partners which are earlier prepared by the Bank of Russia;

identification of other activities of the central partners for their enhancement and (or) development of the central partners who are not specified in paragraphs second and third this Item.

2. Assessment of activities of the central partners (further - assessment) is performed by the Bank of Russia on permanent basis with use of analysis results of information on activities of the central partners, carried out within monitoring in one or several directions provided by subitem 1.2 of Item of 1 this Instruction.

Assessment by the Bank of Russia is performed on one or several of the following directions:

influence of the risks of the central partners revealed by the Bank of Russia on activities of the central partners (in this case assessment is carried out including by means of stress testing of risks of the central partners);

influence of the measures taken on the basis of the recommendations about change of activities of the central partners which are earlier prepared by the Bank of Russia on activities of the central partners;

other activities of the central partners for their enhancement and (or) development of the central partners which are not specified in paragraphs second and third this Item.

3. By results of assessment in case of identification of activities of the central partners for their enhancement and (or) development of the central partners by the Bank of Russia according to Item 3 of part 2.1 of article 25 of the Federal law "About Clearing, Clearing Activities and the Central Partner" recommendations about change of activities of the central partners in the form of general recommendations of the Bank of Russia for all central partners (further - general recommendations of the Bank of Russia) or recommendations of the Bank of Russia for the specific central partner are prepared (further - individual recommendations of the Bank of Russia).

In recommendations of the Bank of Russia results of assessment and the offer of the Bank of Russia on change of activities of the central partners for the purpose of enhancement by the central partners of the activities and (or) development of the central partners are reflected.

3.1. General recommendations of the Bank of Russia are posted on the official site of the Bank of Russia on the Internet within five working days from the date of in which they were prepared according to Item 3 presents of the Instruction.

3.2. Individual recommendations of the Bank of Russia are submitted by the Bank of Russia to the central partner on paper and (or) in electronic form by any available method providing confirmation of the fact and date of their obtaining by the central partner no later than five working days from the date of in which they were prepared according to Item 3 presents of the Instruction.

4. This Instruction is applied to legal entities who by the Bank of Russia are given the status of the central partner according to article 27.1 of the Federal law "About Clearing, Clearing Activities and the Central Partner".

5. This Instruction becomes effective after 10 days after day of its official publication.

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