Bank of Russia amends lending and repayment conditions

The new version of the Terms and Conditions for the Issue and Repayment of Bank of Russia Loans Backed by Securities or Credit Claims (hereinafter, the Terms and Conditions) will be applied beginning on 6 February 2023. The amendments provide for a new criterion for the inclusion in collateral pools of credit claims, the principal amounts of which are denominated in foreign currencies.

According to the new version of the Terms and Conditions, the corresponding loan agreements should stipulate a creditor’s right to demand the fulfilment of obligations in rubles. Considering this right, the new version of the Terms and Conditions contains an updated form of the request for the inclusion of a non-marketable asset in the collateral pool to be used when the request is sent in paper form.

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