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Ministry of Justice

Russian Federation

On September 13, 2019 No. 55914

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of August 23, 2019 No. 5236-U

About the list obligatory for development by the self-regulatory organizations in the sphere of the financial market uniting agricultural credit consumer cooperatives, basic standards and requirements to their content and also about the list of transactions (content of types of activity) of agricultural credit consumer cooperatives in the financial market, standardization subjects

This Instruction based on part 2 of article 5 of the Federal Law of July 13, 2015 No. 223-FZ "About self-regulatory organizations in the sphere of the financial market" (The Russian Federation Code, 2015, No. 29, Art. 4349; 2016, No. 27, Art. 4225; 2017, No. 52, Art. 7920; 2018, No. 1, Art. 10; No. 49, of the Art. 7524) establishes the list obligatory for development by the self-regulatory organizations in the sphere of the financial market uniting agricultural credit consumer cooperatives, basic standards and the requirement to their content and also the list of transactions (content of types of activity) of agricultural credit consumer cooperatives in the financial market, standardization subjects.

1. The self-regulatory organizations in the sphere of the financial market uniting agricultural credit consumer cooperatives (further respectively - self-regulatory organizations of credit cooperatives, credit cooperatives), shall develop the following basic standards:

on risk management;

corporate management;

protection of the rights and interests of physical persons and legal entities - receivers of the financial services rendered by members of self-regulatory organizations of credit cooperatives (further - the basic standard of protection of the rights and interests of receivers of services of credit cooperatives);

making of transactions in the financial market.

2. The basic standard on risk management developed by self-regulatory organizations of credit cooperatives shall contain following provisions.

2.1. The purposes and tasks of risk management system of credit cooperatives, and also set of methods and the methods allowing credit cooperative to predict emergence of risks and to take the measures directed to minimization of their consequences.

2.2. The principles and approaches to the organization by credit cooperative of the risk management system including identification, monitoring it is risk also risk management, providing:

continuity of risk management process;

effective management of risks, including assessment of level of credit risk of the borrower;

compliance of risk management system to nature and to amounts of the transactions made by credit cooperative;

timely bringing information concerning risk management system to data of governing bodies of credit cooperative.

2.3. The list of the main risks which are subject to management of credit cooperative, and also reflecting specifics of transactions of credit cooperative.

2.4. Requirements to system of separation of powers, functionality and internal procedures of credit cooperative in the sphere of risk management.

3. The basic standard of corporate management developed by self-regulatory organizations of credit cooperatives shall contain following provisions.

3.1. Requirement about respect of the principles of corporate management by credit cooperative:

managements for the benefit of members and associated members of credit cooperative;

equalities of conditions for members (associated members) of credit cooperative when implementing of the rights by them taking into account their legal status.

3.2. Mechanisms of realization of the principles specified in subitem 3.1 of this Item.

3.3. Rules and procedures of decision making by governing bodies of credit cooperative.

3.4. Requirements to corporate procedures of credit cooperative, including to procedure for holding general meeting of members of credit cooperative in the form of meeting of representatives, to procedure for election of governing bodies of credit cooperative, to procedure for preparation and holding meetings (meetings) of governing bodies of credit cooperative.

3.5. Requirements to ensuring solidary execution by members of credit cooperative of subsidiary responsibility for its obligations within not brought part of additional contribution of each of members of credit cooperative.

4. The basic standard of protection of the rights and interests of receivers of services of credit cooperatives developed by self-regulatory organizations of credit cooperatives shall contain following provisions.

4.1. The minimum amount of information provided by credit cooperative to physical persons and legal entities - the receivers of financial services who are members (associated members) of credit cooperative or having intention to enter credit cooperative (further - receivers of financial services):

about the complete and reduced (in the presence) name of credit cooperative;

about date of entering of data on credit cooperative into the Unified State Register of Legal Entities;

about membership of credit cooperative in self-regulatory organization of credit cooperatives;

about the basic standard of protection of the rights and interests of receivers of services of credit cooperatives;

about the location of credit cooperative and its separate divisions, contact telephone number of credit cooperative, the address of the official site of credit cooperative on the Internet (in the presence);

about the governing bodies of credit cooperative and persons joining the board (in the presence), the supervisory board about the chairman of credit cooperative (in the presence);

about services in issue of loans, saving of money and other financial services of credit cooperative rendered to members (associated members) of credit cooperative including for additional fare (further - financial services);

about the risks connected with the conclusion and execution by the receiver of financial services of the agreement of rendering financial services and also about the risks connected with the fact that the money raised by credit cooperative is not bank deposit and in accordance with the legislation of the Russian Federation about compulsory deposit insurance credit cooperatives are not participants of system of compulsory deposit insurance;

about methods and addresses of the direction receivers of financial services of appeals to credit cooperative, in self-regulatory organization of credit cooperatives, in the body performing powers on control and supervision of activities of credit cooperatives;

about methods of protection of the rights of receivers of financial services, including information on availability of opportunity and methods of pre-judicial dispute settlement, including on the procedure of mediation (in case of its availability);

about obligation of the member of credit cooperative it is solidary to bear subsidiary responsibility according to obligations of credit cooperative within not brought part of additional contribution of each of members of credit cooperative;

about procedure, conditions and methods of participation of members (associated members) of credit cooperative in management of credit cooperative;

about procedure and conditions of attraction of money of members of credit cooperative and procedure for provision of loans by it.

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