INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of November 7, 2024 No. 6936-U

About acceptance by self-regulatory organization in the sphere of the financial market uniting credit consumer cooperatives, decisions on compensation payments

This Instruction based on part 7 of article 40 of the Federal Law of July 18, 2009 No. 190-FZ "About credit cooperation" determines acceptance by self-regulatory organization in the sphere of the financial market uniting credit consumer cooperatives, decisions on compensation payments.

1. The self-regulatory organization in the sphere of the financial market uniting credit consumer cooperatives (further - self-regulatory organization), makes the decision on the compensation payments performed by self-regulatory organization (further - the decision on compensation payments), in case of insufficiency of own property of the credit consumer cooperative specified regarding 1 article 39 of the Federal Law of July 18, 2009 to No. 190-FZ "About credit cooperation" (further - credit cooperative), for accomplishment of its obligations to members (unitholders) based on provided by credit cooperative to self-regulatory organization:

the information containing in bookkeeping registers of credit cooperative, confirming insufficiency of own property of credit cooperative for accomplishment of its obligations to members (unitholders) for date of its representation;

information on origins of insufficiency of own property of credit cooperative for accomplishment of its obligations to members (unitholders);

information on the size of the means necessary for accomplishment of obligations of credit cooperative to members (unitholders) for date of its representation;

information on application of measures for recovery of solvency of credit cooperative for date of its representation (in the presence);

other information if the obligation of its submission to self-regulatory organization is established by basic and internal standards of self-regulatory organization according to part 7 of article 40 of the Federal Law of July 18, 2009 No. 190-FZ "About credit cooperation".

2. The self-regulatory organization for decision making about compensation payments shall based on information which is available for it, including information provided by credit cooperative according to Item of 1 this Instruction to establish insufficiency of own property of credit cooperative for accomplishment of its obligations to members (unitholders) for date of representation by credit cooperative of information specified in Item of 1 this Instruction.

3. In case of establishment of insufficiency of own property of credit cooperative for accomplishment of its obligations to members (unitholders) for date of representation by credit cooperative of information specified in Item of 1 this Instruction, the self-regulatory organization within 30 calendar days from the date of receipt from credit cooperative of information specified in Item of 1 this Instruction makes the decision on compensation payments with indication of the amount of compensation payments to credit cooperative.

4. This Instruction is subject to official publication and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of October 30, 2024 No. PSD-37) become effective since February 5, 2025.

5. From the date of entry into force of this Instruction to declare invalid the Instruction of the Bank of Russia of February 27, 2015 No. 3577-U "About adoption by self-regulatory organization of credit consumer cooperatives of the decision on compensation payments from compensation fund" <1>.

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<1> It is registered by the Ministry of Justice of the Russian Federation on April 28, 2015, registration No. 37045.

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