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FEDERAL LAW OF THE RUSSIAN FEDERATION

of December 2, 1990 No. 395-1

About banks and banking activity

(as amended on 26-07-2019)

Chapter I. General provisions

Article 1. Basic concepts of this Federal Law

Credit institution - the legal entity who for generation of profit as main objective of the activities based on special permission (license) of the Central bank of the Russian Federation (Bank of Russia) has the right to perform the banking activities provided by this Federal Law. The credit institution is formed on the basis of any pattern of ownership as economic society.

Bank - credit institution which has exclusive right to perform in total the following banking activities: attraction in deposits of money of physical persons and legal entities, placement of the specified means on its own behalf and at own expense on the terms of recoverability, the paid nature, urgency, opening and maintaining bank accounts of physical persons and legal entities.

Bank with the universal license - bank which has the right to perform the banking activities specified in part one of article 5 of this Federal Law.

Bank with the basic license - bank which has the right to perform the banking activities specified in part one of article 5 of this Federal Law taking into account restrictions, the stipulated in Clause 5.1 presents of the Federal Law.

Non-bank credit institution:

1) the credit institution having the right to perform exclusively banking activities specified in Items 3 and 4 (only regarding business bank accounts in connection with implementation of money transfers without opening of bank accounts), and also in Item 5 (only in connection with implementation of money transfers without opening of bank accounts) and Item 9 parts one of article 5 of this Federal Law (further - the non-bank credit institution having the right to implementation of money transfers without opening of bank accounts and the related other banking activities);

2) the credit institution having the right to perform the separate banking activities provided by this Federal Law. Admissible combinations of banking activities for such non-bank credit institution are established by the Bank of Russia;

3) credit institution - the central partner performing functions according to the Federal Law of February 7, 2011 No. 7-FZ "About clearing, clearing activities and the central partner" (further - the Federal Law "About Clearing, Clearing Activities and the Central Partner"). Admissible combinations of banking activities for non-bank credit institution - the central partner (further - the central partner) are established by the Bank of Russia. The Bank of Russia has the right to determine additional terms of implementation by the central partner of banking activities.

Foreign bank - the bank recognized as that by the legislation of foreign state in the territory of which it is registered.

Article 2. Bank system of the Russian Federation and legal regulation of banking activity

The bank system of the Russian Federation includes the Bank of Russia, credit institutions, and also representative offices of foreign banks.

Legal regulation of banking activity is performed by the Constitution of the Russian Federation, this Federal Law, the Federal Law "About the Central Bank Russian Federation (Bank of Russia)", other Federal Laws, regulations of the Bank of Russia.

Article 3. Unions and associations of credit institutions

Credit institutions can create the unions and associations which are not pursuing revenue generating purposes for protection and representation of interests of the members, coordination of their activities, development of interregional and international backgrounds, satisfaction of scientific, information and professional interests, development of recommendations about implementation of banking activity and to the solution of other joint tasks of credit institutions. Banking operations are forbidden to the unions and associations of credit institutions.

The unions and associations of credit institutions are created and registered according to the procedure, established by the legislation of the Russian Federation for non-profit organizations.

The unions and associations of credit institutions notify the Bank of Russia on the creation after registration in a month.

Article 4. Banking group and bank holding

For the purpose of this Federal Law banking group consolidation of legal entities in which one legal entity or several legal entities (further - members of banking group) are under control or considerable influence of one credit institution (further - parent credit institution of banking group) is recognized not being the legal entity.

For the purpose of this Federal Law bank holding the consolidation of legal entities (further - members of bank holding) including at least one credit institution which is under control of one legal entity, not being credit institution (further - parent organization of bank holding), and also (is recognized not being the legal entity in case of their availability) others (not being credit institutions) the legal entities who are under control or considerable influence of parent organization of bank holding or entering into banking groups of credit institutions - members of bank holding provided that the share of banking activity determined on the basis of technique of the Bank of Russia in activities of bank holding constitutes at least 40 percent. The share of banking activity in activities of bank holding is determined as the relation of size of assets and (or) the income of credit institutions - members of bank holding, the determined on the basis of the technique established by the Bank of Russia and cumulative size of assets and (or) the income of bank holding determined taking into account assets and (or) the income based on accounting (financial) records of these legal entities.

Control and considerable influence for determination of members of banking group (bank holding) and creation of the reporting established by this Federal Law are determined according to the International accounting standards (further - IFRS) recognized in the territory of the Russian Federation.

The parent organization of bank holding for the organization of management of activities of members of bank holding and control of the specified activities has the right to create managing company of bank holding and to assign to it fulfillment of duties which according to this Federal Law are assigned to parent organization of bank holding. Managing company of bank holding for the purpose of this Federal Law economic society which main activities are the organization of management of activities of members of bank holding and control of the specified activities is recognized. The parent organization of bank holding shall have opportunity to determine decisions of managing company of bank holding by the questions carried to competence of meeting of her founders (participants), including concerning its reorganization and liquidation. The managing company of bank holding has no right to be engaged in insurance, banking, productive and trading activity, and also to perform professional activity in the security market, activities for management of investment funds, mutual investment funds and non-state pension funds.

The parent credit institution of banking group, parent organization of bank holding notify the Bank of Russia on formation of banking group, bank holding, on creation of managing company of bank holding and the powers conferred to it. The procedure for such notification is established by the Bank of Russia.

In case of identification by the Bank of Russia during implementation of supervision of activities of credit institutions of signs of participation of credit or other institutions in Bank of Russia banking group sends to parent credit institution of banking group the requirement about execution of the provisions established by this Federal Law by it. In case of identification by the Bank of Russia during implementation of supervision of activities of credit institutions of signs of their participation in bank holding Bank of Russia notifies parent organization of bank holding on non-execution of requirements of this Federal Law by it. The parent organization of bank holding in time, not exceeding 30 calendar days from the date of receipt of the notification of the Bank of Russia, notifies the Bank of Russia on formation of bank holding or sends information on the reasons of such non-notification to the Bank of Russia.

In case of non-execution by parent organization of bank holding of requirements of this Federal Law and the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" the Bank of Russia in the procedure established by it has the right to limit carrying out by credit institution - the member of bank holding of transactions with parent organization of bank holding, members of bank holding for a period of up to six months or to impose ban on implementation by credit institution - the member of bank holding of the separate banking activities provided by the license for banking operations granted by it with parent organization of bank holding, members of bank holding for a period of up to one year.

Article 5. Banking activities and other transactions of credit institution

Treat banking activities:

1) attraction of money of physical persons and legal entities in deposits (poste restante and for certain term);

2) placement 1 parts one of this Article of the raised funds specified in Item on its own behalf and at own expense;

3) opening and maintaining bank accounts of physical persons and legal entities;

4) implementation of money transfers at the request of physical persons and legal entities, including corresponding banks, according to their bank accounts;

5) collection of money, bills of exchange, payment and settlement documents and cash servicing of physical persons and legal entities;

6) purchase and sale of foreign currency in cash and non-cash forms;

7) attraction of precious metals of physical persons and legal entities in deposits (poste restante and for certain term), except for coins from precious metals;

7. 1) placement of the attracted precious metals specified in Item 7 of this part on its own behalf and at own expense;

7. 2) opening and maintaining bank accounts of physical persons and legal entities in precious metals, except for coins from precious metals;

7. 3) implementation of the translations at the request of physical persons and legal entities, including corresponding banks, according to their bank accounts in precious metals;

8) ceased to be valid according to the Federal Law of the Russian Federation of 26.07.2019 No. 249-FZ

9) implementation of money transfers at the request of physical persons without opening of bank accounts (except for postal orders).

Opening by credit institutions of bank accounts of the individual entrepreneurs and legal entities registered in accordance with the legislation of the Russian Federation (except for public authorities and local government bodies), branches (representations) of foreign legal entities is performed in the presence of data on state registration of physical persons as individual entrepreneurs, about state registration of legal entities, about accreditation of branches (representations) of foreign legal entities, about registration in tax authority, containing respectively in the Unified State Register of Private Entrepreneurs, the Unified State Register of Legal Entities and the state register of accredited branches, representations of foreign legal entities.

The credit institution in addition to the banking activities listed in part one of this Article has the right to perform the following transactions:

1) issue of guarantees for the third parties providing obligation fulfillment in cash;

2) acquisition of right of the requirement from the third parties of obligation fulfillment in cash;

3) trust management of money and other property under the contract with physical persons and legal entities;

4) implementation of transactions with precious metals, coins from precious metals in accordance with the legislation of the Russian Federation;

5) provision in lease to physical persons and legal entities of special rooms or the safes which are in them for document storage and values;

6) leasing transactions;

7) rendering consulting and information services;

8) issue of bank guarantees.

The credit institution has the right to perform other transactions in accordance with the legislation of the Russian Federation.

All banking activities and other transactions are performed in rubles, and in the presence of the corresponding license of the Bank of Russia - and in foreign currency. Rules of banking operations, including the rule of their material logistics, are established by the Bank of Russia according to the Federal Laws. Banking activities and other transactions with precious metals are performed with affined by gold, silver, platinum, palladium in ingots and (or) with the gold, silver, platinum, palladium considered on bank accounts in precious metals with coins from precious metals.

The credit institution is forbidden to be engaged in productive, trading and insurance activity. The specified restrictions do not extend to the conclusion of the agreements which are derivative financial instruments and providing or to transfer obligation of one agreement party to other party goods, or obligation of one party on the conditions determined in case of the conclusion of the agreement in case of submission of demand by other party to purchase or sell goods if the obligation on delivery is stopped without execution in nature, and also on the conclusion of agreements for the purpose of accomplishment of functions of the central partner and the operator of commodity deliveries according to the Federal Law "About Clearing, Clearing Activities and the Central Partner". The specified restrictions do not extend also to sale of the property acquired by credit institutions for the purpose of ensuring the activities and for sale of the property realized by credit institution in case of the address of collection regarding pledge in connection with non-execution by the debtor of the obligation provided with pledge of property, or received by credit institution under the agreement as compensation. The specified restrictions do not extend also to purchase and sale of precious metals and coins from the precious metals specified in part five of this Article.

Money transfers without opening of bank accounts, except for the translations of electronic money, are performed at the request of physical persons.

Article 5.1. Features of implementation by bank with the basic license of banking activities and transactions

The bank with the basic license has no right to perform the banking activities provided by Items 2, of 7, 7.1 - 7.3 parts one of article 5 of this Federal Law, and also transactions, stipulated in Item 8 parts three of article 5 of this Federal Law with foreign legal entities, with the foreign organizations, not being legal entities on foreign law, and also with physical persons which personal law is the right of foreign state.

Opening by bank with the basic license of bank (correspondent) foreign bank accounts, except for opening of the foreign bank account for the purposes of participation in foreign payment system is not allowed.

The bank with the basic license has no right to acquire the rights to claim against the subjects specified in part one of this Article, to perform leasing transactions with the specified subjects, and also to issue concerning the specified subjects of the guarantee.

The bank with the basic license has the right to place borrowed funds in the securities conforming to the requirements established by part five of article 24 of this Federal Law.

The bank with the universal license which received the status of bank with the basic license or changed the status to the status of non-bank credit institution, or the bank with the basic license which changed the status to the status of non-bank credit institution, having the right to continue banking operations and transactions for the purpose of execution of the agreements signed before change of its status taking into account the features established by this Article.

The bank with the universal license which received the status of bank with the basic license or changed the status to the status of non-bank credit institution, or the bank with the basic license which changed the status to the status of non-bank credit institution, having the right to continue banking operations and the transactions which are not permitted respectively for bank with the basic license, non-bank credit institution, for the purpose of execution of the agreements signed before change of its status, before expiration of the specified agreements, but no more than 5 years from the date of change of the status of bank with the universal license or bank with the basic license if other term is not provided by this Article.

The bank with the universal license which received the status of bank with the basic license or changed the status to the status of non-bank credit institution, or the bank with the basic license which changed the status to the status of non-bank credit institution, having the right to continue banking operations and other transactions for the purpose of execution of the credit agreements signed before change of their status before the expiration of originally fixed term of operation of agreements.

Concerning the agreements specified in parts six and the seventh this Article originally established prices (the monetary commitment amount) and effective period of the relevant agreements are not subject to change.

The bank with the universal license which received the status of bank with the basic license or changed the status to the status of non-bank credit institution, or the bank with the basic license which changed the status to the status of non-bank credit institution shall terminate the agreement of the bank (correspondent) account with foreign bank within year from the date of acquisition of the specified status. This restriction does not extend to cases of opening of the foreign bank account for the purposes of participation in foreign payment system.

Article 6. Activities of credit institution in the security market

According to the license of the Bank of Russia for banking operations the bank has the right to perform release, purchase, sale, accounting, storage and other transactions with the securities performing functions of the payment document with the securities confirming attraction of money in deposits and on bank accounts with other securities, implementation of transactions with which does not require receipt of the special license according to the Federal Laws, and also has the right to exercise trust management of the specified securities under the contract with physical persons and legal entities.

The credit institution has the right to perform professional activity in the security market according to the Federal Laws.

Article 7. Trade name of credit institution

The credit institution shall have full trade name and has the right to have the reduced trade name in Russian. The credit institution has the right to have also full trade name and (or) the reduced trade name in languages of the people of the Russian Federation and (or) foreign languages.

The trade name of credit institution in Russian and languages of the people of the Russian Federation may contain foreign-language borrowings in the Russian transcription or in transcriptions of languages of the people of the Russian Federation, except for the terms and abbreviations reflecting form of business of credit institution.

The trade name of credit institution shall contain specifying on nature of its activities by use of words "bank" or "non-bank credit institution". Other requirements to trade name of credit institution are established by the Civil code of the Russian Federation.

The Bank of Russia in case of consideration of the application about state registration of credit institution shall forbid use of trade name of credit institution if the expected trade name already contains in the Book of state registration of credit institutions. Use in trade name of credit institution of the words "Russia", Russian Federation, "state", "federal" and "central", and also the words and phrases formed on their basis is allowed according to the procedure, established by the Federal Laws.

Any legal entity in the Russian Federation, except for the legal entity who obtained the license for banking operations from the Bank of Russia "bank", "credit institution" cannot use in the trade name words or to specify otherwise that this legal entity has the right to banking operations.

Article 8. Disclosure of information on governing bodies of credit institution and about activities of credit institution, banking group and bank holding

The credit institution shall open in forms, according to the procedure and terms which are established by the Bank of Russia, the following information on the activities:

1) annually - annual accounting (financial) accounts and audit opinion on it;

2) quarterly - intermediate accounting (financial) records. If it was performed intermediate accounting (financial) records, the specified reporting reveals together with audit opinion of auditing organization.

The credit institution shall provide upon the demand of physical person or the legal entity to it the copy of the license for banking operations, copies of other permissions (licenses) issued to it if need of receipt of the specified documents is provided by the Federal Laws, and also accounting (financial) records for the current year.

In delusion by failure to provide information or by provision of unreliable or incomplete information the credit institution bears responsibility according to this Federal Law and other Federal Laws for introduction of physical person or legal entity.

The parent credit institution of banking group opens:

1) annually - annual consolidated financial statements and audit opinion on it, information on the accepted risks, procedures of their assessment, risk management and the capital;

2) quarterly - intermediate consolidated financial statements, information on the accepted risks, procedures of their assessment, risk management and the capital. If the intermediate consolidated financial statements were performed, the specified reporting reveals together with audit opinion of auditing organization.

Forms, procedure and terms of disclosure by parent credit institution of banking group of information on the accepted risks, procedures of their assessment, risk managements and the capital are determined by the Bank of Russia. The procedure and terms of disclosure by parent credit institution of banking group of consolidated financial statements and audit opinion are determined by it by the Bank of Russia.

The parent organization of bank holding shall open annually consolidated financial statements and audit opinion on it. The procedure and terms of disclosure by parent organization of bank holding of consolidated financial statements and audit opinion are determined by it by the Bank of Russia.

The credit institution having the license of the Bank of Russia for attraction in deposits of money of physical persons shall open information on interest rates for bank deposit agreements with physical persons (in general on credit institution without disclosure of information on certain physical persons) and information on debt of credit institution on household deposits. The procedure for disclosure of such information is established by the Bank of Russia.

The credit institution shall open information on transactions on concession to mortgage agents or specialized societies of the monetary claims including certified by mortgages. The structure of such information, procedure and terms of its disclosure are established by regulations of the Bank of Russia.

The credit institution shall open in the procedure established by regulations of the Bank of Russia to the unrestricted group of people on the official site on the Internet the following information on qualification and on work experience of board members (supervisory board) of credit institution, the faces holding positions of sole executive body, his deputies, members of collegiate executive body, the chief accountant, the deputy chief accountant of credit institution, and also the head, the chief accountant of branch of credit institution:

1) surname, name, middle name (the last - in the presence);

2) the name of post (with indication of dates of coordination by the Bank of Russia and position assignment - for persons holding positions of sole executive body, his deputies, members of collegiate executive body of credit institution, the chief accountant, the deputy chief accountant of credit institution, and also the head, the chief accountant of branch of credit institution, date of election - for board members (supervisory board) of credit institution);

3) data on professional education (with indication of the name of the educational organization, year of its termination, qualification, specialty and (or) the direction of preparation), about additional professional education with indication of the mastered program and date of its development, and also data on academic degree and on date of its award, on academic status and on date of its assignment;

4) data on labor activity in five years preceding date of appointment (election) to post with indication of places of employment and posts (including memberships in the board of directors (supervisory board) of the legal entity), dates of appointment (election) and dismissal (release from post), the description of service duties.

In case of non-presentation of credit institution by the board member (supervisory board) of credit institution of the data which are part of information provided by part nine of this Article, the credit institution shall open in the same order information on non-presentation of such data by the specified person.

If after disclosure by the provided part nine of this Article of information of the data, being its part, change, information on it shall be opened in the same order in time, not exceeding three days following behind day of receipt of its documentary confirmation.

The credit institution and officials of credit institution in case of violation of procedure and terms of disclosure of information provided by part nine of this Article bear the responsibility established by the legislation of the Russian Federation.

Credit institution, except for bank with the basic license, parent credit institution of banking group shall open to the unrestricted group of people on the official sites on the Internet according to the procedure and terms which are established by the Bank of Russia, information on the financial instruments which are switched on in calculation of own means (capital) of credit institution, banking group including on all conditions and on terms of their release, repayment, converting, on other transactions with them, and about essential changes of these tools.

The credit institution, except for bank with the basic license, shall open in forms, according to the procedure and terms which are established by the Bank of Russia, information on the accepted risks, procedures of their assessment, risk management and the capital.

The Bank of Russia has the right to establish features of disclosure of information according to type of credit institutions, including depending on the license types issued to banks.

The government of the Russian Federation has the right to determine cases in which credit institutions have the right to open information which is subject to disclosure according to requirements of this Federal Law in narrow structure and (or) amount, the list of information which credit institutions have the right not to open, and also persons, information on whom can not reveal. If the credit institution according to this part opens information which is subject to disclosure according to requirements of this Federal Law in narrow structure and (or) amount, and the obligation on provision of such information is not provided in the Bank of Russia by requirements of the legislation of the Russian Federation, such credit institution shall report to the Bank of Russia about it, and also provide to the Bank of Russia information which does not reveal, in cases, in terms, according to the procedure, in structure and amount which are established by the Bank of Russia.

Article 9. Relations between credit institution and state

The credit institution does not answer for obligations the state. The state does not answer for obligations credit institution, except as specified, when the state itself assumed such obligations.

The credit institution does not answer for obligations the Bank of Russia. The Bank of Russia does not answer for obligations credit institution, except as specified, when the Bank of Russia assumed such obligations.

Bodies of legislative and executive power and local government bodies have no right to interfere with activities of the credit institutions, except as specified, provided by the Federal Laws.

The credit institution on the basis of the state or municipal service provision contract for the state or municipal needs can carry out personal errands of the Government of the Russian Federation, executive bodies of subjects of the Russian Federation and local government bodies, to perform transactions with means of the federal budget, budgets of subjects of the Russian Federation and local budgets and settlings with them, to provide target use of the budgetary funds allocated for implementation of federal and regional programs. Such contract shall contain cross liabilities of the parties and provide their responsibility, conditions and forms of control of use of budgetary funds.

The credit institution not can be shall implementation of the activities which are not provided by its constituent documents, except as specified when the credit institution assumed the corresponding obligations, or the cases provided by the Federal Laws.

The credit institution shall receive according to the procedure, established by the Bank of Russia in coordination with Russian Central Election Commission and to consider the requests which arrived from Russian Central Election Commission, the electoral commissions of subjects of the Russian Federation about submission of data on accounts, deposits of candidates or on other elective offices, and in the cases provided by the Federal Law, data on accounts, deposits of spouses and minor children of candidates or on other elective offices directed for the purpose of carrying out the stipulated by the legislation Russian Federation about elections of check of reliability of the data provided by candidates or on other elective offices to the electoral commissions. In the presence at credit institution of data on accounts, deposits the credit institution shall send the specified data to Russian Central Election Commission, the electoral commissions of subjects of the Russian Federation according to the procedure and the terms established by the Bank of Russia in coordination with Russian Central Election Commission in amount, stipulated by the legislation to the Russian Federation about elections.

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