FEDERAL LAW OF THE RUSSIAN FEDERATION

of August 8, 2024 No. 275-FZ

About introduction of amendments to the Federal law "About Banks and Banking Activity" and separate legal acts of the Russian Federation

Accepted by the State Duma on July 31, 2024

Approved by the Federation Council on August 2, 2024

Article 1

Bring in the Federal Law "About Banks and Banking Activity" (in edition of the Federal Law of February 3, 1996 No. 17-FZ) (Sheets of the Congress of People's Deputies of RSFSR and the Supreme Council of RSFSR, 1990, No. 27, Art. 357; Russian Federation Code, 1996, No. 6, Art. 492; 1999, No. 28, Art. 3459; 2001, No. 26, Art. 2586; 2002, No. 12, Art. 1093; 2003, No. 50, Art. 4855; 2005, No. 1, Art. 45; 2006, No. 6, Art. 636; No. 19, Art. 2061; No. 31, Art. 3439; 2007, No. 22, Art. 2563; No. 31, Art. 4011; No. 45, Art. 5425; 2008, No. 15, Art. 1447; 2010, No. 8, Art. 775; No. 27, Art. 3432; 2011, No. 7, Art. 905; No. 27, Art. 3873; 2012, No. 27, Art. 3588; No. 50, Art. 6954; No. 53, Art. 7605; 2013, No. 11, Art. 1076; No. 19, Art. 2317, 2329; No. 26, Art. 3207; No. 27, Art. 3438, 3477; No. 30, Art. 4084; No. 51, Art. 6683, 6699; 2014, No. 19, Art. 2317; No. 26, Art. 3379, 3395; No. 30, Art. 4219; No. 45, Art. 6144, 6154; No. 52, Art. 7543; 2015, No. 17, Art. 2473; No. 27, Art. 3950; No. 29, Art. 4355, 4357, 4385; No. 51, Art. 7243; 2016, No. 1, Art. 23; No. 15, Art. 2050; No. 27, Art. 4294; 2017, No. 18, Art. 2661, 2669; No. 30, Art. 4456; No. 31, Art. 4754, 4761, 4830; 2018, No. 1, Art. 66; No. 24, Art. 3400; No. 27, Art. 3950; No. 31, Art. 4852; No. 32, Art. 5100, 5115; No. 49, Art. 7524; No. 53, Art. 8440; 2019, No. 6, Art. 463; No. 22, Art. 2661; No. 49, Art. 6953; No. 51, Art. 7486; No. 52, Art. 7787; 2021, No. 24, Art. 4210; No. 27, Art. 5078, 5151; 2022, No. 1, Art. 40; No. 10, Art. 1401; No. 14, Art. 2190; No. 16, Art. 2614; No. 29, Art. 5233, 5259, 5286; No. 43, Art. 7271; No. 47, Art. 8108; No. 50, Art. 8792; 2023, No. 1, Art. 16, 18; No. 25, Art. 4447; No. 31, Art. 5766, 5784; No. 32, Art. 6214; No. 52, Art. 9515; 2024, No. 26, Art. 3553; Official Internet portal of legal information (www.pravo.gov.ru), 2024, on July 22, No. 0001202407220013, 0001202407220022) following changes:

Part the sixth Article 1 to add 1) with offers of the following content: "The foreign bank has the right according to this Federal Law to perform activities in the territory of the Russian Federation through the branch (further also - branch of foreign bank). Requirements to activities of branch of foreign bank are established also by other Federal Laws.";

Part one of Article 2 to state 2) in the following edition:

"The bank system of the Russian Federation includes the Bank of Russia, credit institutions, branches of foreign banks, and also representative offices of foreign banks.";

To add 3) with Article 5.2 of the following content:

"Article 5.2. Banking activities and other transactions of branch of foreign bank

The foreign bank through the branch created in the territory of the Russian Federation has the right to perform in accordance with the legislation of the Russian Federation taking into account the features established by this Federal Law:

1) the banking activities specified in Items 3 - 6 and 9 parts one of article 5 of this Federal Law;

2) the transactions specified in Items 1, of 2, 5 - 8 parts three and parts four of article 5 of this Federal Law.

Foreign bank through the branch created in the territory of the Russian Federation, having the right to perform with the physical persons including registered as individual entrepreneurs, only:

1) purchase and sale of foreign currency in cash and non-cash forms. At the same time purchase and sale of foreign currency in non-cash form can be made only for the purpose of implementation of money transfers without opening of bank accounts, including electronic money (except for postal orders);

2) money transfers without opening of bank accounts, including electronic money (except for postal orders).

Banking activities are performed by foreign bank through the branch created in the territory of the Russian Federation in rubles, and in the presence of the corresponding license of the Bank of Russia and in foreign currency.

Provisions of part two of article 5 of this Federal Law, except for regulations on opening of bank accounts of individual entrepreneurs, extend to the activities performed by foreign bank through the branch created in the territory of the Russian Federation.

The foreign bank through the branch created in the territory of the Russian Federation is forbidden to be engaged in productive, trading and insurance activity. The specified restrictions do not extend to the conclusion of the agreements which are derivative financial instruments and providing or to transfer obligation of one agreement party to other party goods, or obligation of one agreement party on the conditions determined in case of the conclusion of the agreement in case of presentation by other agreement party of the requirement to purchase or sell goods if the obligation on delivery is stopped without execution in nature, and also for sale of the property acquired by foreign bank through the branch created in the territory of the Russian Federation for the purpose of ensuring the activities and for sale of the property realized in case of the address of collection regarding pledge in connection with non-execution by the debtor of the obligation provided with pledge of property or received by foreign bank through the branch created in the territory of the Russian Federation under the agreement as compensation.

When implementing by foreign bank of banking activities and transactions through the branch created in the territory of the Russian Federation, the rights and obligations arise directly at foreign bank.

The foreign bank has the right to perform activities in the territory of the Russian Federation no more than through one branch.";

Article 6 to add 4) with parts of the following content:

"Provisions of part one of this Article, except for the provisions concerning the right to implementation of trust management of the securities specified in part one of this Article extend to the activities performed by foreign bank in the territory of the Russian Federation through the branch.

Foreign bank through the branch created in the territory of the Russian Federation, having the right to perform according to the Federal Laws professional activity in the security market, except for activities for trust management of the securities, money intended for transactions with securities and (or) the conclusions of the agreements which are derivative financial instruments.";

To add 5) with Article 7.1 of the following content:

"Article 7.1. Name of branch of foreign bank

The branch of foreign bank shall have full name in Russian which shall contain:

1) actually name of branch of foreign bank and word "bank branch";

2) full name of foreign bank in transliteration letters of the Russian alphabet, and also the full official name of the country of the actual location of foreign bank in Russian.

The branch of foreign bank has the right to have the abbreviated name in Russian.

Names of branch of foreign bank shall conform to other requirements to trade name of the legal entity established by the Civil code of the Russian Federation and also requirements of this Article.

Full name and the abbreviated name (in the presence) of branch of foreign bank shall not match or be similar to extent of mixing with full name and (or) the abbreviated name (in the presence) of branch of other foreign bank, data on which are included in the register of the licenses for banking operations granted by the Bank of Russia to foreign banks for activities implementation in the territory of the Russian Federation through the branches (except for case, if branches are in the territory of the Russian Federation open the foreign banks which are on the relation to each other affiliates).

Full name and the abbreviated name (in the presence) of branch of foreign bank in Russian shall not be identical to names of branches of foreign banks, data on which are excluded by the Bank of Russia from the register of the licenses for banking operations granted by the Bank of Russia to foreign banks for activities implementation in the territory of the Russian Federation through the branches.

Expected names of branch of foreign bank are subject to approval of the Bank of Russia. The procedure and term of such approval, including the bases for refusal in approval and procedure for forming of names, are established by the regulation of the Bank of Russia. The consent of the Bank of Russia to use of expected names of branch of foreign bank is valid within 12 months from the date of adoption by the Bank of Russia of the decision on its issue.";

6) in Article 8:

a) state the name in the following edition:

"Article 8. Disclosure of information on governing bodies of credit institution, about activities of credit institution, banking group, bank holding, about employees of branch of foreign bank and about activities of the foreign bank which opened branch in the territory of the Russian Federation";

b) add with parts of the following content:

"For the purpose of bringing to shareholders (participants) of the foreign bank performing activities in the territory of the Russian Federation through the branch his creditors and other persons of information on activities of this branch such foreign bank shall have the official site of the branch created in the territory of the Russian Federation on the Internet which network address is placed in the Russian national domain zone (further also - the official site of branch of foreign bank). The following information in Russian shall be posted on the official site of branch of foreign bank:

1) data on issue by the Bank of Russia to foreign bank of the license for banking operations for activities implementation in the territory of the Russian Federation through the branch and about accreditation of branch of foreign bank in the territory of the Russian Federation;

2) the list of banking activities, the right to which implementation is granted to foreign bank for activities implementation in the territory of the Russian Federation through the branch;

3) full name of foreign bank (in language of the state in the territory of which the foreign bank is registered and in transliteration letters of the Russian alphabet), the address of the actual location of foreign bank, data on number and date of issue of the document based on which the foreign bank has the right to perform banking activity;

4) the annual accounting (financial) accounts of foreign bank for the previous three years of its activities (with transfer into Russian) constituted according to IFRS, other internationally acknowledged rules or national standards;

5) the audit opinions (in the presence) confirming reliability of this part of annual accounting (financial) accounts of foreign bank specified in item 4 for the previous three years of its activities (with transfer into Russian);

6) full name and abbreviated name (in the presence) branch of foreign bank, its address (location), e-mail address, phone numbers, operating mode;

7) regulations on branch of foreign bank, data on identification taxpayer number;

8) other data established by this Federal Law.

Provisions of parts nine, the eleventh and twelfth this Article extend to disclosure by branch of foreign bank on the official site on the Internet of data concerning persons performing in branch of foreign bank of function of the head, deputy manager and chief accountant, and also person performing functions (persons performing functions) of sole executive body of foreign bank.";

Article 9 to add 7) with part of the following content:

"Provisions of parts one - the fifth this Article extend to branches of foreign banks.";

8) third of Article 11.1 after words "foreign banks" to add part with words "(including any of its branches)";

To add 9) with Article 11.1-4 of the following content:

"Article 11.1-4. Employees of branch of foreign bank

In branch of foreign bank there shall be head, the deputy manager, the chief accountant, the head of service of risk management, the head of internal control, and also the special official responsible for implementation of rules of internal control in branch of foreign bank for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction.

Restriction for the holding the posts set by part three of article 11.1 of this Federal Law, and also provision of parts eight, the tenth - the thirteenth Article 11.1 and parts five - the tenth article 16 of this Federal Law extends to the head of branch of foreign bank, his deputy and the chief accountant of branch of foreign bank.

Person performing functions of the head, the deputy manager or the chief accountant of branch of foreign bank in case of approval of candidates, appointment (election) to positions and during the entire period of implementation of functions on the specified positions, including temporary execution of job responsibilities, shall conform to qualification requirements and requirements to goodwill, stipulated in Item 1 part one of article 16 of this Federal Law.

Provisions of parts two - the fourth, sixth and seventh Article 11.1-2 and parts eight - the tenth article 16 of this Federal Law extend to person performing functions of the head of service of risk management, the head of internal control of branch of the foreign bank or the special official responsible for realization in branch of foreign bank of rules of internal control for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction.

Person performing functions of the head of service of risk management or the head of internal control of branch of foreign bank during the entire period of implementation of functions on the specified positions, including temporary execution of job responsibilities, shall conform to the qualification requirements established by the Bank of Russia according to part two of article 11.1-2 of this Federal Law and requirements to goodwill, stipulated in Item 1 part one of article 16 of this Federal Law.

Person performing functions of the special official responsible for implementation of rules of internal control in branch of foreign bank for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction during the entire period of implementation of functions on the specified position including temporary execution of job responsibilities, shall conform to the qualification requirements established by the Bank of Russia in coordination with the authorized body performing functions on counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, and requirements to goodwill, stipulated in Item 1 part one of article 16 of this Federal Law.

The Bank of Russia performs the actions provided by part fifteen of article 11.1 of this Federal Law, in case of detection of discrepancy of person performing functions of the head, the deputy manager or the chief accountant of branch of foreign bank, to qualification requirements and (or) requirements to goodwill. The instruction provided by part fifteen of article 11.1 of this Federal Law goes the Bank of Russia to foreign bank. The copy of this instruction goes the Bank of Russia to branch of foreign bank no later than the working day following behind day of its direction in foreign bank.

The Bank of Russia performs the actions provided by part eight of article 11.1-2 of this Federal Law, in case of detection of discrepancy of person performing functions of the head of service of risk management, the head of internal control of branch of the foreign bank or the special official responsible for implementation of rules of internal control in branch of foreign bank for the purpose of counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction, qualification requirements and (or) requirements to goodwill. The instruction provided by part eight of article 11.1-2 of this Federal Law goes the Bank of Russia to foreign bank. The copy of this instruction goes the Bank of Russia to branch of foreign bank no later than the working day following behind day of its direction in foreign bank.

The Bank of Russia has the right to establish additional requirements to risk management systems and internal control (including internal audit), and also requirements to activities of the head of service of risk management and the head of internal control of branch of foreign bank.

The number of the employees of branch of foreign bank who are foreign citizens and stateless persons shall make no more than 50 percent from total quantity of employees of branch of foreign bank. Data on quantity (about change of quantity) the employees of branch of foreign bank who are foreign citizens and stateless persons are represented by foreign bank to the Bank of Russia according to the procedure and terms which are established by the Bank of Russia.";

To add 10) with Article 11.2-1 of the following content:

"Article 11.2-1. Security deposit of branch of foreign bank

The security deposit of branch of foreign bank is created for the purpose of ensuring execution by the foreign bank of agreement obligations concluded when implementing activities in the territory of the Russian Federation through the branch.

The security deposit of branch of foreign bank is constituted by the money placed on the correspondent account in rubles opened by foreign bank in the Bank of Russia, investments in federal loan bonds or securities which issue is performed on its own behalf by the Bank of Russia for the purpose of realization of monetary policy, the rights to which are considered in the depositary created in accordance with the legislation of the Russian Federation.

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