INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of May 19, 2017 No. 4377-U

About requirements to credit institutions and foreign banks in which the central depositary has the right to place money

This Instruction based on Item 3 of Article 28 and Item 1 of article 32 of the Federal Law of December 7, 2011 No. 414-FZ "About the central depositary" (The Russian Federation Code, 2011, No. 50, Art. 7356; 2012, No. 31, Art. 4334; No. 53, Art. 7607; 2013, No. 27, Art. 3477; No. 30, Art. 4084; 2015, No. 27, Art. 4001; No. 29, of the Art. 4357) establishes requirements to credit institutions and foreign banks in which the central depositary has the right to place money.

1. Credit institutions and foreign banks in which the central depositary has the right to place money shall correspond to one of the following requirements:

be foreign banks with the organization place in the countries having country estimates on classification of the export credit agencies participating in the Agreement of member countries of Organization for Economic Cooperation and Development (OECD) "About the basic principles of provision and use of the export loans having official support" (further - country estimates), "0", "1", or in the countries with the high level of the income which is members of OECD and (or) the European Union, passed to single monetary unit of the European Union (for the purposes of this Instruction information on country estimates and the countries with the high level of the income which is members of OECD and (or) the European Union posted on the official site by OECD on the information and telecommunication Internet) (further - developed countries is used), and to act as the international centralized systems of accounting of the rights to securities and (or) payment under securities or according to their personal law the central depositaries, and (or) to perfrom calculations for securities by results of the biddings on the foreign stock exchanges or other controlled markets or to perform clearing by results of such biddings;

be national (central) banks of the State Parties of the Commonwealth of Independent States;

be the credit institutions created in accordance with the legislation of the Russian Federation and have at least one credit score assigned to one of credit rating agencies, not below the Bank of Russia of level established by the Board of directors, information on which is posted on the official site of the Bank of Russia on the Internet;

be foreign banks with the organization place in the countries having country estimates "0", "1" or in developed countries and have credit rating not lower than the BBB-level on classification of foreign credit rating agencies Fitch Ratings or "Es - and - Pi Global Reytinggs" (S&P Global Ratings) or not lower than the Ba1 level on classification of foreign credit rating agency "Mudis Investors Service" (Moody "s Investors Service);

be the credit institutions created in accordance with the legislation of the Russian Federation and certain foreign national banks or foreign regulators of the financial markets as authorized credit institutions for implementation of money transfers in national currency of such foreign national banks or foreign regulators of the financial markets with the credit institutions created in accordance with the legislation of the Russian Federation;

be settlement non-bank credit the organizations;

be foreign banks with the organization place in the states which are not included in the list of foreign states and the territories, making concerning the Russian Federation, the Russian legal entities and physical persons unfriendly actions, No. 430-r approved by the order of the Government of the Russian Federation of March 5, 2022 in case of simultaneous observance of the following conditions:

the cash amount, placed in each of the foreign banks specified in paragraph eight of this Item shall not exceed value of 10 percent from the size of own means (capital) of the central depositary (Ktsd) determined according to paragraphs the fourth - the sixth item 4 of the Instruction of the Bank of Russia of June 28, 2023 No. 6472-U "About numerical values and method of calculation of the standard rate of sufficiency of own means (capital) and the standard rate of current liquidity of credit institution which is given the status of the central depositary, and also about requirements to activities of credit institution which are given the status of the central depositary, in case of their calculation" <1> (further - own means (capital) of the central depositary);

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<1> It is registered by the Ministry of Justice of the Russian Federation on October 2, 2023, registration No. 75424.

the cumulative cash amount, placed in the foreign banks specified in paragraph eight of this Item shall not exceed value of 100 percent from the size of own means (capital) of the central depositary.

2. If the foreign bank has the credit scores of different levels assigned by foreign credit rating agencies Fitch Ratings, "to Es - and - Pi Global Reytinggs" (S&P Global Ratings) and (or) "Mudis Investors Service" (Moody "s Investors Service), then as credit rating the highest credit rating from appropriated by the specified rating agencies is accepted.

3. This Instruction becomes effective after 10 days after day of its official publication.

4. From the date of entry into force of this Instruction to recognize invalid:

Instruction of the Bank of Russia of June 9, 2012 No. 2830-U "About requirements to credit institutions and foreign banks in which the central depositary has the right to place money", registered by the Ministry of Justice of the Russian Federation on June 14, 2012 No. 24578;

Instruction of the Bank of Russia of July 22, 2014 No. 3334-U "About modification of Items 1 and 2 of the Instruction of the Bank of Russia of June 9, 2012 No. 2830-U "About requirements to credit institutions and foreign banks in which the central depositary has the right to place money", registered by the Ministry of Justice of the Russian Federation on September 9, 2014 No. 34001;

subitem 1.1 of Item 1 of the Instruction of the Bank of Russia of November 25, 2014 No. 3454-U "About modification of separate regulations of the Bank of Russia", No. 35118 registered by the Ministry of Justice of the Russian Federation on December 10, 2014.

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