FEDERAL LAW OF THE RUSSIAN FEDERATION

of July 6, 1996 No. 87-FZ

About procedure for establishment of debt cost of unit of nominal of target debt obligation of the Russian Federation

Accepted by the State Duma on June 21, 1996

According to the Federal Law "About Recovery and Protection of Savings of Citizens of the Russian Federation" this Federal Law establishes unit of nominal of target debt obligation of the Russian Federation on guaranteed savings of citizens and determines procedure for establishment of its debt cost.

Article 1. Unit of nominal of target debt obligation of the Russian Federation has the name "debt ruble" ("Torahs"), is conventional monetary unit and is expressed in currency of the Russian Federation through the debt cost established for unit of nominal of target debt obligation according to the procedure, determined by this Federal Law.

Article 2. The debt cost of one debt ruble (further debt cost) is determined proceeding from change of ratio of control cost of necessary social set and basic cost of this set.

Article 3. Necessary social set - the fixed set of the main consumer goods and services, traditional for the population of the Russian Federation, which structure and amounts of consumption are necessary for ensuring activity of the person and preserving his health.

Necessary social set affirms as structure and amounts of consumption (per capita in year) goods and services according to appendix to this Federal Law.

Article 4. Its cost assessment (in currency of the USSR) determined proceeding from the prices (in the state and cooperative retail trade) and rates of 1990 in general across RSFSR is accepted to basic cost of necessary social set.

Basic cost of necessary social set is established by the Federal Law.

Article 5. Control of change in value of necessary social set is exercised weekly.

For every week the control cost of necessary social set is determined.

Its cost assessment (in currency of the Russian Federation) determined in general by the Russian Federation proceeding from the prices and rates of the week preceding this is accepted to the control cost of necessary social set (for this week).

Article 6. Debt cost is expressed in currency of the Russian Federation.

Debt cost for the current week is in number equal to the relation of average size of control costs of necessary social set for four weeks which were directly preceding current to basic cost of necessary social set.

Debt cost is in number equal in current month to the average size of the debt costs determined for the weeks entering in the previous month.

Article 7. Observation of the change in price and rates for the goods and services which are part of necessary social set, and also determination of control cost of necessary social set and debt cost performs the State committee of the Russian Federation according to the statistics.

The control cost of necessary social set is calculated on the basis of data on the prices and rates for goods and services in general in the Russian Federation determined according to the procedure established by the State committee of the Russian Federation according to the statistics.

Article 8. Control of correctness of determination of debt cost and approval of its size are performed by the Government of the Russian Federation.

The debt cost approved by the Government of the Russian Federation is subject to official publication.

From the date of official publication debt cost is considered established for the corresponding period and is applied when using and servicing target debt obligations of the Russian Federation in all territory of the Russian Federation.

Article 9. Debt cost is established monthly or weekly.

If within three months which were directly preceding current growth of debt cost did not exceed 1 percent a month, since current month debt cost is established monthly.

If debt cost in current month exceeds debt cost last month more than for 1 percent, since first complete week of current month debt cost is established weekly.

Weekly debt cost is established since Tuesday every week.

Monthly debt cost is established from the 1st day of every month. If the 1st falls on Sunday or Monday, monthly debt cost is established from first Tuesday of month.

Article 10. The size of the public internal debt of the Russian Federation on guaranteed savings of citizens, certain Federal Law "About Recovery and Protection of Savings of Citizens of the Russian Federation", is expressed in debt rubles.

Article 11. Suggest the President of the Russian Federation to bring the decrees into accord with this Federal Law.

Article 12. Charge to the Government of the Russian Federation:

bring the regulatory legal acts into accord with this Federal Law;

in a month from the date of entry into force of this Federal Law to provide establishment (official publication) of debt cost.

Article 13. This Federal Law becomes effective from the date of its official publication.

Appendix

Necessary social set (per capita in year)

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