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Ministry of Justice

Russian Federation

On June 5, 2017 No. 46943

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of May 11, 2017 No. 4373-U

About requirements to own means of professional participants of the security market

(as amended of the Instruction of the Central bank of the Russian Federation of 02.04.2018 No. 4761-U)

This Instruction based on article 76.4 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348, Art. 4357; No. 41, Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3891; No. 27, Art. 4225, Art. 4273, Art. 4295; 2017, No. 14, the Art. 1997), Item 3 of article 44 of the Federal Law of April 22, 1996 No. 39-FZ "About the security market" (The Russian Federation Code, 1996, No. 17, Art. 1918; 2001, No. 33, Art. 3424; 2002, No. 52, Art. 5141; 2004, No. 27, Art. 2711; No. 31, Art. 3225; 2005, No. 11, Art. 900; No. 25, Art. 2426; 2006, No. 1, Art. 5; No. 2, Art. 172; No. 17, Art. 1780; No. 31, Art. 3437; No. 43, Art. 4412; 2007, No. 1, Art. 45; No. 18, Art. 2117; No. 22, Art. 2563; No. 41, Art. 4845; No. 50, Art. 6247; 2008, No. 52, Art. 6221; 2009, No. 1, Art. 28; No. 18, Art. 2154; No. 23, Art. 2770; No. 29, Art. 3642; No. 48, Art. 5731; No. 52, Art. 6428; 2010, No. 17, Art. 1988; No. 31, Art. 4193; No. 41, Art. 5193; 2011, No. 7, Art. 905; No. 23, Art. 3262; No. 29, Art. 4291; No. 48, Art. 6728; No. 49, Art. 7040; No. 50, Art. 7357; 2012, No. 25, Art. 3269; No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 26, Art. 3207; No. 30, Art. 4043, Art. 4082, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6985; 2014, No. 30, Art. 4219; 2015, No. 1, Art. 13; No. 14, Art. 2022; No. 27, Art. 4001; No. 29, Art. 4348, Art. 4357; 2016, No. 1, Art. 50, Art. 81; No. 27, the Art. 4225) 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 April 28, 2017 No. 10) establish requirements to own means of professional participants of the security market.

1. The size of own means of the professional participant of the security market shall be at least minimum size of own means of the professional participant of the security market calculated according to this Instruction.

2. The minimum size of own means of professional participants of the security market is calculated by formula:

                                                                                                                MRSS = X x recreation center,

where:

MRSS - the minimum size of own means;

X - the constant equal to 2 million rubles (except for depositaries).

Recreation center - additional coefficient, the stipulated in Item 3 presents of the Instruction;

For depositaries size X is calculated by formula:

 

Формула к Указанию ЦБ РФ от 11.05.2017 г. №4373-У

where:

Qi; j - quantity of j-ykh of securities on the account of the nominee holder or the account of person which is acting for the benefit of other persons, i-ym open for depositary person performing accounting of the rights to securities;

Pi; j - the market price of j-ykh of the securities considered on the account of the nominee holder or the account of person which is acting for the benefit of other persons, i-ym open for depositary person performing accounting of the rights to securities, determined according to the procedure established for determination of tax base on income tax according to Chapter 23 of the Tax Code of the Russian Federation (The Russian Federation Code, 2000, No. 32, the Art. 3340). The depositary for calculation of size X uses the market price of security determined for settlement date of size X. If for settlement date of size X market price of security is not determined, for Pi value determination; the depositary uses j: for depositary receipts - the work of market price of the represented securities of their quantity, and in case of lack of market price - the work of nominal value of the represented securities on their quantity increased by the correction coefficient equal 3; for investment shares of share investment

funds - the settlement cost of investment shares as of the last date its determinations preceding settlement date of size X; for hypothecation certificates of participation - estimated value as of the last date its determinations preceding settlement date of size X; for other securities - the work of nominal value of the specified securities on their quantity increased by the correction coefficient equal 3;

ai - value of the coefficient applied according to item 4 of this Instruction appropriated to i-mu to person performing accounting of the rights to securities;

C - constant equal to 2 million rubles;

Recreation center - additional coefficient, the stipulated in Item 3 presents of the Instruction.

The depositary when calculating size X does not use the following securities:

securities of foreign issuers concerning which there is no information on their market price and nominal value;

the depositary receipts specified in paragraph eleven of this Item in case of absence at the represented securities of market price and nominal value;

the securities considered on personal account of the nominee holder in the register of owners of securities which maintaining is not transferred to the registrar;

the securities considered on personal account of the nominee holder in the register of owners of securities which maintaining is not performed by the registrar in connection with termination of the contract on maintaining the register;

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