ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of September 4, 2013 No. 777

About procedure of transactions on management of remaining balance of means on the single account of the federal budget regarding purchase (sale) of securities according to repurchase agreements and opening of accounts for implementation of such transactions

According to the Budget code of the Russian Federation the Government of the Russian Federation decides:

1. Approve the enclosed Rules of implementation of transactions on management of remaining balance of means on the single account of the federal budget regarding purchase (sale) of securities according to repurchase agreements and opening of accounts for implementation of such transactions.

2. Determine that:

a) purchase (sale) of securities is performed by the Federal Treasury according to repurchase agreements within remaining balance of means on the single account of the federal budget;

b) purchase (sale) of securities is performed by the Federal Treasury according to repurchase agreements with the credit institutions conforming to the requirements established by the Rules approved by this resolution;

c) purchase (sale) of securities according to repurchase agreements is performed concerning bonds of federal loans;

d) The Federal Treasury for ensuring purchase (sale) of securities according to repurchase agreements according to the procedure, stipulated by the legislation the Russian Federation, has the right to attract the exchange, non-bank credit institution, the clearing organization, the central depositary and other legal entities who are professional participants of the security market and without remuneration the Central bank of the Russian Federation.

3. To the Federal Treasury in 5-month time to approve procedure of transactions on management of remaining balance of means on the single account of the federal budget regarding purchase (sale) of securities according to repurchase agreements.

4. Recommend to the Central bank of the Russian Federation:

a) send to the Federal Treasury of the offer on the period of carrying out selection of requests of credit institutions for the conclusion of repurchase agreements, about amount of the funds allocated for security purchase according to repurchase agreements about securities concerning which repurchase agreements, completion date of obligations, the minimum fixed interest rate of investment of funds according to repurchase agreements and (or) procedure for determination of basic floating interest rate of investment of funds and the minimum bonus level to it are signed;

b) provide to the Federal Treasury information on compliance of credit institutions to the requirements provided by subitems "a", "b" and "g" of Item 3 of the Rules approved by this resolution.

5. Represent to the Federal Treasury:

a) in the Central bank of the Russian Federation information on the facts of non-execution of obligations from credit institutions;

b) in the Ministry of Finance of the Russian Federation quarterly the report on results of purchase (sale) of securities on repurchase agreements for its inclusion in the budget reports about execution of the federal budget represented to the Government of the Russian Federation.

Approved by the Order of the Government of the Russian Federation of September 4, 2013 No. 777

Rules of implementation of transactions on management of remaining balance of means on the single account of the federal budget regarding purchase (sale) of securities according to repurchase agreements and opening of accounts for implementation of such transactions

1. These rules establish procedure for purchase (sale) for securities according to the repurchase agreements (further - transactions of repo) concluded concerning bonds of federal loans with the credit institutions conforming to the requirements established by these rules and opening of accounts for implementation of transactions of repo.

2. Buyer of securities by the first part of the repurchase agreement and the seller of securities by the second part of the repurchase agreement is the Federal Treasury. Seller of securities by the first part of the repurchase agreement and the buyer of securities by the second part of the repurchase agreement is the credit institution.

3. Transactions of repo are performed with the credit institutions conforming to the following requirements:

a) the credit institution is bank with the universal license or non-bank credit institution - the central partner;

b) availability at credit institution of own means (capital) in the amount of at least 1 billion rubles across the Russian Federation which is available in the Central bank of the reporting on the date of check of compliance of credit institution to the requirements provided by subitems "an" and "v" of this Item;

c) absence at credit institution of overdue debt on the bank deposits which are earlier placed in it at the expense of means of the federal budget, and unexecuted agreement obligations of repo, concluded with the Federal Treasury;

d) ceased to be valid.

4. Transactions of repo are performed with the credit institutions which concluded with the Federal Treasury (territorial authority of the Federal Treasury) general agreements about purchase (sale) of securities according to repurchase agreements (further - the general agreement).

5. The general agreement is signed in form and according to the procedure which are established by the Federal Treasury.

6. The credit institution, intended to perform with the Federal Treasury of transaction of repo, sends to the Federal Treasury (territorial authority of the Federal Treasury) the written address about intention to sign the general agreement (further - the address) in form and according to the procedure which are established by the Federal Treasury.

7. Federal Treasury (territorial authority of the Federal Treasury):

a) accepts the address and checks its compliance to provisions of procedure for the conclusion of the general agreement established by the Federal Treasury;

b) checks compliance of credit institution to requirements, stipulated in Item 3 these rules.

8. In case of address compliance to provisions of procedure for the conclusion of the general agreement and compliance of credit institution to requirements, stipulated in Item 3 these rules, the Federal Treasury (territorial authority of the Federal Treasury) signs with credit institution the general agreement no later than 20 working days from the date of receipt of the address.

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