INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of March 6, 2019 No. 5089-U

About modification of the Provision of the Bank of Russia of December 1, 2015 No. 507-P "About required reserves of credit institutions"

1. Based on article 38 of the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 40, Art. 5318; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, Art. 4, Art. 37; No. 27, Art. 3958, Art. 4001; No. 29, Art. 4348, Art. 4357; No. 41, Art. 5639; No. 48, Art. 6699; 2016, No. 1, Art. 23, Art. 46, Art. 50; No. 26, Art. 3891; No. 27, Art. 4225, Art. 4273, Art. 4295; 2017, No. 1, Art. 46; No. 14, Art. 1997; No. 18, Art. 2661, Art. 2669; No. 27, Art. 3950; No. 30, Art. 4456; No. 31, Art. 4830; No. 50, Art. 7562; 2018, No. 1, Art. 66; No. 9, Art. 1286; No. 11, Art. 1584, Art. 1588; No. 18, Art. 2557; No. 24, Art. 3400; No. 27, Art. 3950; No. 31, Art. 4852; No. 32, Art. 5115; No. 49, Art. 7524; No. 53, the Art. 8411, the Art. 8440) and according to the solution of the Board of directors of the Bank of Russia (the minutes of the Board of directors of the Bank of Russia of March 6, 2019 No. 5) the Provision of the Bank of Russia of December 1, 2015 No. 507-P "About required reserves of credit institutions", registered by the Ministry of Justice of the Russian Federation on December 25, 2015 No. 40275, on December 22, 2016 No. 44868, on January 16, 2018 No. 49646, on January 24, 2019 No. 53537, to add with Item 4.3.1 of the following content:

"4.3.1. Does not lead to nedovznos and (or) failure to carry out of averaging of required reserves and is not recognized violation of mandatory reserve requirements:

early (before three years) return (partial return) of the money raised by credit institution for the term of at least three years from legal entities - residents and nonresidents within placement by the specified legal entities of bonds for the benefit of credit institution according to the agreement which is not containing condition about early (before three years) agreement cancelation and (or) early (before three years) return of money at the initiative of the specified legal entities (including in connection with realization by bondholders of right to claim of early repayment of bonds) or at the initiative of credit institution, and (or) early (before three years) termination of such agreement on which obligations were excluded from structure of reserve obligations;

early (before three years) repayment (partial repayment) or acquisition (partial acquisition) placed by credit institution - bond issuing institution with repayment period at least three years, the decision on which release does not contain conditions about early repayment (partial repayment) or acquisition (partial acquisition) of bonds by credit institution - the issuer within three years upon the demand of bondholders or at the initiative of credit institution - the issuer or provides early repayment of bonds by their converting in shares according to which obligations were excluded from structure of reserve obligations.".

2. This Instruction becomes effective from the date of its official publication.

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