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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of June 18, 2018 No. 697

About approval of criteria (requirements) to which according to the Federal Law "About Participation in Shared-equity Construction of Apartment Houses and Other Real Estate Objects and about Modification of Some Legal Acts of the Russian Federation" there shall correspond authorized banks and banks which have the right to opening of escrow accounts for agreement settlements of participation in shared-equity construction

(as amended on 24-03-2022)

Based on the Federal Law "About Participation in Shared-equity Construction of Apartment Houses and Other Real Estate Objects and about Modification of Some Legal Acts of the Russian Federation" Government of the Russian Federation decides:

1. Approve the enclosed criteria (requirements) to which according to the Federal Law "About Participation in Shared-equity Construction of Apartment Houses and Other Real Estate Objects and about Modification of Some Legal Acts of the Russian Federation" there shall correspond authorized banks and banks which have the right to opening of escrow accounts for agreement settlements of participation in shared-equity construction.

2. Declare invalid the order of the Government of the Russian Federation of April 27, 2017 No. 498 "About requirements to banks which have the right to opening of escrow accounts for agreement settlements of participation in shared-equity construction" (The Russian Federation Code, 2017, No. 19, of the Art. 2836).

Russian Prime Minister

D. Medvedev

Approved by the Order of the Government of the Russian Federation of June 18, 2018 No. 697

Criteria (requirements) to which according to the Federal Law "About Participation in Shared-equity Construction of Apartment Houses and Other Real Estate Objects and about Modification of Some Legal Acts of the Russian Federation" there shall correspond authorized banks and banks which have the right to opening of escrow accounts for agreement settlements of participation in shared-equity construction

1. The bank is bank with the universal license.

2. Participation of bank in system of compulsory deposit insurance in banks of the Russian Federation according to the Federal Law "About Deposit Insurance in Banks of the Russian Federation".

3. Non-use by bank of restrictions on banking operations concerning separate industries, the organizations (companies) in connection with application to the Russian Federation of measures of sanctions impact, and also lack of risks (threats) of application of such restrictions by them. The banks which are not corresponding to the specified criterion (requirement) are determined by the decision of the Government of the Russian Federation which goes to the Central Bank of the Russian Federation.

4. Compliance of bank to one of the following requirements:

a) the bank is the organization of single institute of the development in the housing sphere determined by the Federal Law "About Assistance to Development and Increase in Management Efficiency in the Housing Sphere and about Modification of Separate Legal Acts of the Russian Federation";

b) availability at bank is not lower than the BBB-(RU) level of credit score on national rating scale for the Russian Federation, assigned by credit rating agency Analytical Credit Rating Agency (Joint-stock company), and (or) it is not lower than the ruBBB-level on national rating scale for the Russian Federation, appropriated by credit rating agency Joint-stock company "Expert RA Rating agency.

For banks with credit rating is lower than "A-" and to "BBB-" inclusive the outstanding amount limit of all agreements on provision of purpose-oriented loans to builders on construction (creation) of apartment houses and (or) other real estate objects is determined in the amount of no more than 20 percent of size of own means (capital) of bank;

c) concerning bank the Board of directors of the Central bank of the Russian Federation according to the Federal Law "About Insolvency (Bankruptcy)" approves the plan of participation of the Central bank of the Russian Federation in implementation of measures for the prevention of bankruptcy and the decision on guaranteeing by the Central bank the Russian Federation going concern of such bank is made;

d) concerning bank or concerning persons, under control or considerable influence of which there is bank, the measures of restrictive nature entered by foreign state, national association and (or) the union and (or) the public (interstate) institution of foreign state or national association and (or) union are effective. The specified banks shall be determined by the decision of the Government of the Russian Federation which goes to the Central Bank of the Russian Federation.

 

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