PROVISION OF THE CENTRAL BANK OF RUSSIA

of September 7, 2007 No. 310-P

About curators of credit institutions

Based on the Federal Law "About the Central Bank Russian Federation (Bank of Russia)" (Russian Federation Code, 2002, N 28, Art. 2790; 2003, N 2, Art. 157; N 52, of Art. 5032; 2004, N 27, Art. 2711; N 31, of Art. 3233; 2005, N 25, Art. 2426; N 30, of Art. 3101; 2006, N 19, Art. 2061; N 25, of Art. 2648; 2007, N 1, Art. 9, Art. 10; N 10, of Art. 1151; Art. N 18, 2117) 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 August 31, 2007 N 18) the Bank of Russia establishes procedure for appointment, obligation, the right and responsibility of staff of the territorial offices of the Bank of Russia appointed by curators of credit institutions (further - the curator).

Chapter 1. General provisions

1.1. The purpose of appointment of curators is enhancement of banking supervision, including on the basis of the best understanding and assessment of such aspects of activities of credit institution as financial stability (capital condition, quality of assets, profitability, liquidity), corporate management (including the organization of risk management systems and internal control, strategic planning), transparency of structure of property, structure of group in which the credit institution is parent organization or the participant.

1.2. The main objective of the curator is timely and exact assessment of economic situation of the credit institution assigned to it, including identification of violations (shortcomings) of its activities at perhaps earlier stages of their emergence, and also the situations menacing to legitimate interests of her creditors and investors, stability of banking sector of the region and (or) banking system stability of the Russian Federation.

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