New Bank of Russia secured lending regulations
The Bank of Russia approved the Terms and Conditions for the Issue and Redemption of Bank of Russia Loans Backed by Securities or Credit Claims (further referred to as the Terms and Conditions).
Effective 1 October 2018, secured Bank of Russia loans1 will be issued in accordance with the Terms and Conditions. Starting the said date, Regulations Nos.
For operations to be carried out in accordance with the Terms and Conditions, credit institutions should promptly and duly address the Bank of Russia’s regional divisions with which they have correspondent accounts, to conclude the Contracts of Participation in the Operations on the Issue and Redemption of Bank of Russia Loans Backed by Securities or Credit Claims (further referred to as the Contracts).
The Terms and Conditions provide for a much wider use of electronic document workflow between the Bank of Russia and credit institutions in credit operations. As soon as the Contracts become effective, the Bank of Russia will only accept certain documents of credit institutions electronically.
1 Other than operations carried out under irrevocable credit lines, emergency liquidity assistance and specialised refinancing facilities.
2 Bank of Russia Regulation No.
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