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Ministry of Justice

Russian Federation

On August 11, 2006 No. 8144

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 4, 2006 No. 290-P

About procedure for issue by the Bank of Russia to credit institutions of the permissions giving opportunity to have the affiliated organizations in the territory of foreign state

(as amended on 24-04-2017)

According to article 35 of the Federal law "About Banks and Banking Activity" (Sheet of the Congress of People's Deputies of RSFSR and Supreme Council of RSFSR, 1990, N 27, Art. 357; Russian Federation Code, 1996, N 6, Art. 492; 2006, N 19, the Art. 2061) this Provision establishes procedure for issue of permissions by the Bank of Russia to credit institutions to organization of the affiliated organizations in the territory of foreign states and acquisition of the status of the main society concerning the acting legal nonresident persons.

Chapter 1. General provisions

1.1. The credit institution can with the permission of the Bank of Russia and according to the requirements established by the Federal Laws and this Provision to have the affiliated organizations in the territory of foreign states.

1.2. The procedure established by this Provision extends to receipt of permissions to organization of the affiliated organization in the territory of foreign state, and also to acquisition of the status of the main society concerning the operating nonresident organization in which the credit institution will have opportunity owing to the prevailing participation in the authorized capital, or according to the signed agreement, or to otherwise determine the decisions made by governing bodies of this organization (daleerazresheniye).

Opportunity to otherwise determine the decisions made by governing bodies of the nonresident organization can be expressed as the opportunity arising at credit institution owing to its indirect (through other legal entities) the prevailing participation in the authorized capital of the nonresident organization or owing to adoption by the nonresident organization of the obligation to give to credit institution opportunity to determine the decisions made by this nonresident organization and also possibility of credit institution to appoint sole executive body and (or) more than a half of structure of collegiate executive body of legal nonresident person and (or) opportunity to determine election more than a half of structure of its board of directors (supervisory board).

1.3. The requirement about receipt of Permission does not extend to organization credit institution of the affiliated organization in the territory of foreign state or acquisition of the status of the main society by credit institution concerning the operating nonresident organization in cases, not stipulated in Item 1.2 this provision.

Permission can be issued to credit institution in case of the direction it petitions for issue of Permission according to the procedure determined by this Provision.

1.4. In case of acquisition of the status of the main society by credit institution concerning the operating nonresident organization having at the time of acquisition the affiliated nonresident organizations, the Bank of Russia issues to credit institution Permission with indication of in it its affiliated nonresident organizations in which as a result of such acquisition the credit institution indirectly (through the specified operating nonresident organization) will have opportunity to determine the decisions made by their governing bodies.

Chapter 2. Requirements of the Bank of Russia imposed on them by consideration of question of issue of Permission

2.1. The credit institution petitioning for issue of Permission (further - bank), shall conform to the following requirements:

a) perform the activities within at least 3 years from the date of state registration and have the General license;

b) ceased to be valid

c) conform to requirements imposed to participation in deposit insurance system of physical persons in banks of the Russian Federation;

d) fulfill reserve requirements of the Bank of Russia (not to have nedovznos in required reserves, to carry out obligation on averaging of required reserves, not to have unpresented calculation of the size of required reserves, not to have debt on unpaid penalties for violation of standard rates of required reserves);

e) not have overdue monetary commitments before the Bank of Russia;

e) not have debt to the federal budget, the budget of appropriate subject of the Russian Federation, the corresponding local budget and state non-budgetary funds.

2.2. By consideration of the petition for issue of Permission the Bank of Russia takes into account economic justification of the project of organization bank of the affiliated organization in the territory of foreign state (acquisitions of the status of the main society concerning the acting legal nonresident person in whom it will have opportunity owing to the prevailing participation in the authorized capital, or according to the signed agreement, or otherwise to determine the decisions made by governing bodies of this organization) (further - creation of the affiliated organization).

The specified project is recognized economically reasonable if there are prospects of long-term existence of the affiliated organization as financially steady organization.

2.3. The Bank of Russia does not issue permission to creation of the affiliated organization in the states (in the territories) which according to the procedure, determined by the legislation of the Russian Federation, are carried to the states (territories) which are not participating in international cooperation in the sphere of counteraction of legalization (washing) of income gained in the criminal way and to terrorism financing.

Chapter 3. Approval procedure Bank of Russia

3.1. For receipt of Razresheniya bank shall provide to the structural division of the Bank of Russia exercising supervision of its activities - Department of supervision of systemically significant credit institutions of the Bank of Russia or territorial office of the Bank of Russia the following documents:

a) the petition for issue of Permission in which the purposes, method and terms of creation of the affiliated organization or acquisition of the status of the main society concerning the operating nonresident organization shall be specified and also the amount of the means invested in the authorized capital of the affiliated organization, the share size (in percentage expression) in the authorized capital of the affiliated organization (if participation of bank in the authorized capital of the affiliated organization is supposed); the name and the period of activities of the acting legal nonresident person concerning which the bank is acquired by the status of the main society;

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