Requirements for issue of credit DFAs: draft Bank of Russia ordinance
The Bank of Russia proposes introducing a number of requirements for decisions to issue credit digital financial assets (DFAs). This is a new product that banks issue against a part of their loan portfolio.
Credit DFAs enable an investor to receive payouts relating to payments under a bank’s loan agreement. When purchasing this instrument, the investor undertakes the risk of a loan default that was initially borne by the creditor. Therefore, when issuing credit DFAs, a bank should provide investors with information about the loan agreement, including its number, the loan amount, the interest rate, and the terms concerning the right to assign the claim under the agreement to a third party as well as disclose the data on the borrower.
This information will help investors make more informed decisions when purchasing this type of DFAs.
The document also extends the list of data to be specified in a decision to issue any DFAs. The information about the issuer should include a link to the website where it discloses data. If the issuer has a credit rating, it is necessary to provide a link to the website of the credit rating agency that assigned the rating.
The public consultation on the draft ordinance will be held through 10 October 2025.