INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of July 30, 2018 No. 4876-U

About procedure for development and approval of the plan of participation of the Bank of Russia by the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, modification of the approved plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, about structure of the report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company on the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and procedure for its submission to the Bank of Russia

This Instruction based on Items 2 and 3 of article 184.3-3 of the Federal Law of October 26, 2002 No. 127-FZ "About insolvency (bankruptcy)" (The Russian Federation Code, 2002, No. 43, Art. 4190; 2004, No. 35, Art. 3607; 2005, No. 1, Art. 18, Art. 46; No. 44, Art. 4471; 2006, No. 30, Art. 3292; No. 52, Art. 5497; 2007, No. 7, Art. 834; No. 18, Art. 2117; No. 30, Art. 3754; No. 41, Art. 4845; No. 49, Art. 6079; 2008, No. 30, Art. 3616; No. 49, Art. 5748; 2009, No. 1, Art. 4, Art. 14; No. 18, Art. 2153; No. 29, Art. 3632; No. 51, Art. 6160; No. 52, Art. 6450; 2010, No. 17, Art. 1988; No. 31, Art. 4188, Art. 4196; 2011, No. 1, Art. 41; No. 7, Art. 905; No. 19, Art. 2708; No. 27, Art. 3880; No. 29, Art. 4301; No. 30, Art. 4576; No. 48, Art. 6728; No. 49, Art. 7015, Art. 7024, Art. 7040, Art. 7061, Art. 7068; No. 50, Art. 7351, Art. 7357; 2012, No. 31, Art. 4333; No. 53, Art. 7607, Art. 7619; 2013, No. 23, Art. 2871; No. 26, Art. 3207; No. 27, Art. 3477, Art. 3481; No. 30, Art. 4084; No. 51, Art. 6699; No. 52, Art. 6975, Art. 6984; 2014, No. 11, Art. 1095, Art. 1098; No. 30, Art. 4217; No. 49, Art. 6914; No. 52, Art. 7543; 2015, No. 1, Art. 10, Art. 11, Art. 29, Art. 35; No. 27, Art. 3945, Art. 3958, Art. 3967, Art. 3977; No. 29, Art. 4350, Art. 4355, Art. 4362; 2016, No. 1, Art. 11, Art. 27, Art. 29; No. 23, Art. 3296; No. 26, Art. 3891; No. 27, Art. 4225, Art. 4237, Art. 4293, Art. 4305; 2017, No. 1, Art. 29; No. 18, Art. 2661; No. 25, Art. 3596; No. 31, Art. 4761, Art. 4767, Art. 4815, Art. 4830; No. 48, Art. 7052; 2018, No. 1, Art. 54; No. 11, Art. 1588; No. 18, Art. 2557, Art. 2563, Art. 2576; No. 28, of the Art. 4139) (further - the Federal Law "About Insolvency (Bankruptcy)") establishes procedure for development and approval of the plan of participation of the Bank of Russia by the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company (further - the plan of participation of the Bank of Russia), modification of the approved plan of participation of the Bank of Russia, structure of the report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company (further - Managing company) about the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia (further - the report of Managing company), and procedure for its submission to the Bank of Russia.

Chapter 1. Development and approval of the plan of participation of the Bank of Russia by the Bank of Russia, modification of the approved plan of participation of the Bank of Russia

1.1. In case of plan development of participation of the Bank of Russia the structural division of the Bank of Russia authorized on implementation of measures for the prevention of bankruptcy of insurance companies shall perform its preparation (further - authorized division).

1.2. For the purpose of plan development of participation of the Bank of Russia the authorized division shall send to structural divisions of the Bank of Russia, Managing company and temporary administration of insurance company request about provision of information on activities of insurance company, and also provide information on activities of insurance company which is available for it in their address.

Structural divisions of the Bank of Russia, Managing company and temporary administration of insurance company shall direct required information in time, established by request of authorized division.

1.3. The authorized division in time no later than seven working days from the date of receipt of information according to Item 1.2 of this Instruction sends for consideration of Committee of financial supervision of the Bank of Russia (further - Committee) the following documents:

plan of participation of the Bank of Russia;

the report about the direction to the Board of directors of the Bank of Russia of the offer to make the decision on participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and to approve the plan of participation of the Bank of Russia (further - the report with the offer on participation).

1.4. The report with the offer on participation shall contain:

reasons for sufficiency of measures for observance by insurance company of requirements of financial stability and solvency;

reasons for possibility of implementation of the proposed measures;

reasons for possibility of rendering financial aid by the Bank of Russia according to Items 7, the 9 or 10 article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)";

information on feasibility (inexpediency) of assignment on Managing company of functions of temporary administration of insurance company;

information obtained according to Item 1.2 of this Instruction.

If the plan of participation of the Bank of Russia provides financial assistance according to Item 7 of article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)", the report shall include reasons for possibility of implementation of the proposed measures taking into account conditions of rendering financial aid by the Bank of Russia.

1.5. By results of consideration of the documents specified in Item 1.3 of this Instruction, the Committee makes the decision on their direction to the Board of directors of the Bank of Russia or on refusal in their direction.

The authorized division no later than the working day following behind day of adoption by Committee of the decision on the direction to the Board of directors of the Bank of Russia of the documents specified in Item 1.3 of this Instruction shall send them to the Board of directors of the Bank of Russia and in writing inform Managing company on the decision of Committee.

The authorized division no later than the working day following behind day of adoption by Committee of the decision on refusal in the direction to the Board of directors of the Bank of Russia of the documents specified in Item 1.3 of this Instruction shall inform Managing company on the decision of Committee in writing.

1.6. By results of consideration of the documents specified in Item 1.3 of this Instruction, the Board of directors of the Bank of Russia makes the decision on participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and approval of the plan of participation of the Bank of Russia (further - the decision on participation of the Bank of Russia) or the decision on refusal in participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and in approval of the plan of participation of the Bank of Russia (further - the decision on refusal in participation of the Bank of Russia).

No later than the working day following behind day of acceptance by the Board of directors of the Bank of Russia of the decision on participation of the Bank of Russia, authorized division:

in writing informs Managing company on the decision on participation of the Bank of Russia;

sends the approved plan of participation of the Bank of Russia to Managing company;

sends to the structural division of the Bank of Russia exercising supervision of activities of insurance companies, the copy of the approved plan of participation of the Bank of Russia.

No later than the working day following behind day of acceptance by the Board of directors of the Bank of Russia of the decision on refusal in participation of the Bank of Russia, the authorized division in writing informs Managing company and the structural division of the Bank of Russia exercising supervision of activities of insurance companies on the decision on refusal in participation of the Bank of Russia.

1.7. Changes shall be made to the plan of participation of the Bank of Russia with observance of the requirements established by Items 1.1 - 1.6 presents of the Instruction.

Chapter 2. Structure and procedure for submission of the report of Managing company

2.1. The managing company with frequency, stipulated in Item 3 articles 184.3-3 of the Federal law "About Insolvency (Bankruptcy)", no later than the fifteenth working day of the month following reporting shall provide to the Bank of Russia (authorized division) the report of Managing company constituted according to appendix to this Instruction (further - the monthly report). The monthly report for the last accounting period shall be submitted no later than the last working day of the month following reporting.

The copy of the monthly report in the same time shall be sent by Managing company to the structural division of the Bank of Russia exercising supervision of activities of insurance companies.

By bank inquiry of Russia (authorized division) the Managing company shall provide to the time of the copy of the documents confirming implementation of the measures for the prevention of bankruptcy of insurance company provided in the plan of participation of the Bank of Russia specified in request.

2.2. Submission of the monthly report shall be performed with compliance with law of the Russian Federation about confidentiality of information of limited access.

Chapter 3. Final provisions

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

Appendix

to the Instruction of the Bank of Russia of July 30, 2018 No. 4876-U "About procedure for development and approval of the plan of participation of the Bank of Russia by the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, modification of the approved plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company, about structure of the report of "Managing Company of Fund of Consolidation of Banking Sector" limited liability company on the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia in implementation of measures for the prevention of bankruptcy of insurance company and procedure for its submission to the Bank of Russia"

Structure of the report of managing company on the course of accomplishment of the actions provided by the plan of participation of the Bank of Russia

1. The monthly report shall include the following data:

1.1. full trade name and the reduced trade name (in the presence) insurance company;

1.2. accounting period;

1.3. data on form and amounts of the financial aid provided to insurance company the accruing result from the date of receipt of financial aid;

1.4. information on approach of events (probability of approach of events) with which emergence allocation of additional financial aid can be required (including in the cases determined by the plan of participation of the Bank of Russia);

1.5. information on use of financial aid by insurance company (on condition of its rendering by the Bank of Russia), including about conditions of its placement in assets of insurance company (if financial aid was placed in assets of insurance company), about fair value of the corresponding assets, about conditions of obligations to which repayment financial aid was directed (if financial aid went for repayment of obligations);

1.6. information on return to the Bank of Russia of the money received as financial aid, for the period since date of provision of financial aid by the Bank of Russia until the end of the accounting period (if according to the plan of participation of the Bank of Russia the specified money is subject to return);

1.7. information on the actions for the prevention of bankruptcy of insurance company provided by the plan of participation of the Bank of Russia (including about changes of the size of the authorized capital), with indication of the status of accomplishment of such actions, and also in case of failure to carry out of the actions provided by the plan of participation of the Bank of Russia, and (or) violation information on the reasons of such failure to carry out and (or) violation of terms provided by the plan of participation of the Bank of Russia of completion dates of actions;

1.8. information on achievement by insurance company of the indicators of activities provided by the plan of participation of the Bank of Russia, assessment of reasons for rejection of the actual indicators of activities of insurance company from the indicators provided by the plan of participation of the Bank of Russia and also impact assessment of these variations on financial position of insurance company and sales opportunity of the actions provided by the plan of participation of the Bank of Russia in the approved terms (if the specified indicators are included in the plan of participation of the Bank of Russia);

1.9. data on dynamics of structure and structure of assets of insurance company;

1.10. the data characterizing change of financial condition of insurance company (own means (capital), the created insurance reserves, assets in which own means (capital), and assets in which means of insurance reserves are invested are invested);

1.11. the data characterizing achievement by insurance company of the planned indicators of activities provided by the business plan and (or) the strategy of development for insurance company approved (approved) governing bodies insurance company including the actual and planned indicators of balance sheet items, the report on financial results of insurance company, normative ratio of own means (capital) and undertaken obligations, and also other indicators of activities of insurance company included in the report on the decision of Managing company as key with indication of variation of the actual indicators from planned (join in the report on quarterly basis in the presence of the specified internal documents);

1.12. information on amount of the stopped obligations of insurance company:

under the agreements of subordinated loan specified in the subitem 2 of Item 9 of article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)" (if the specified obligations of insurance company were stopped in the accounting period);

before the managing employees of insurance company specified in the subitem 4 of Item 9 of article 184.3-3 of the Federal law "About Insolvency (Bankruptcy)", and controlling insurance company persons specified in Article 61.10 and Item 1 of article 184.13 of the Federal law "About Insolvency (Bankruptcy)" (The Russian Federation Code, 2002, No. 43, Art. 4190; 2017, No. 31, Art. 4815; 2018, No. 18, the Art. 2557) (further - persons controlling insurance company), according to requirements in cash (if the specified obligations of insurance company were stopped in the accounting period);

1.13. data on application by the Bank of Russia to insurance company in the accounting period of the measures provided by the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; "The official Internet portal of legal information" (www.pravo.gov.ru), on December 30, 2020);

1.14. data on organization and on liquidation of the affiliated and dependent organizations of insurance company, acquisition and sale of shares (share in the authorized capital) of the affiliated and dependent organizations of insurance company, and also other changes of structure of insurance group, parent organization or the member of whom is the insurance company, structures of banking group or bank holding which member (whom) the insurance company is;

1.15. data about significant, according to Managing company, the events connected with activities of governing bodies of insurance company including:

data on the planned and held annual general shareholder meetings and extraordinary general shareholder meetings, about planned and about the approved changes made to the charter with appendix of minutes abstracts of meetings or decisions of the governing bodies of insurance company containing:

data on change of the authorized capital of insurance company;

data on the made decisions on reorganization of insurance company;

data on all transactions of insurance company exceeding one percent from its assets performed in the accounting period by insurance company with indication of interest yield according to such transactions or one-off effect from carrying out transactions in the form of profit (loss);

data on accomplishment of the actions provided by the plan of participation of the Bank of Russia;

data on assessment of activities of governing bodies of insurance company which is carried out according to the charter and internal documents of insurance company;

1.16. data on the planned decisions on election and on the termination of powers of the person, the sole executive body performing functions, members of collegiate executive body, board members (supervisory board) of insurance company, about appointment and about dismissal of deputies of person performing functions of sole executive body of insurance company, the chief accountant, the deputy chief accountant of insurance company;

1.17. data on amount of remuneration of employees of insurance company with indication of the number of her workers and average earnings on separate employee categories according to the internal documents of insurance company installing wages system (join in the report on quarterly basis in the presence of the specified internal documents);

1.18. data on preparation of materials and submission of the claims and (or) statements connected with damnification of insurance company, claiming damages from the faces controlling insurance company in law enforcement agencies and courts, and also data on the course of consideration of the specified claims and (or) statements;

1.19. data on presentation to insurance company of the claims connected with discharge of insurance company of agreements of subordinated loan and (or) discharge of insurance company before managing employees of insurance company and persons controlling insurance company for requirements in cash, and also data on presentation to insurance company of other claims and (or) for the direction in insurance company of addresses, the size of requirements for which exceeds one percent from book value of assets of insurance company.

According to the decision of Managing company the monthly report joins the data on activities of insurance company received during the course of performance the actions provided by the plan of participation of the Bank of Russia, not provided by this Item.

2. Appendix to the monthly report of Managing company for the last accounting period shall contain the following information on accomplishment of actions for the entire period of action of the plan of participation of the Bank of Russia:

data on the carried-out work, including the data characterizing change of financial condition of insurance company;

valid conclusion about results of accomplishment of the plan of participation of the Bank of Russia, the analysis of the reasons of failure to carry out (incomplete accomplishment) of the plan of participation of the Bank of Russia (in case of failure to carry out (incomplete accomplishment);

data on compliance (discrepancy) of insurance company to requirements of financial stability and solvency.

According to the decision of Managing company appendix to the monthly report for the last accounting period joins the data on activities of insurance company received during the course of performance actions for the entire period of action of the plan of participation of the Bank of Russia, not provided by this Item.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info