INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of October 29, 2008 No. 2108-U

About procedure for adoption by the Bank of Russia of the decision on reduction of the authorized capital of bank up to the size of own means (capital)

This Instruction is developed according to article 7 of the Federal law "About Additional Measures for Strengthening of Banking System Stability during the Period till December 31, 2011" ("The Russian newspaper" of October 28, 2008) (further - the Federal Law) and establishes procedure for adoption by the Bank of Russia of the decision on reduction of the authorized capital of bank, being the participant of system of compulsory deposit insurance of physical persons in banks of the Russian Federation on which the Bank of Russia makes the decision on the direction in the "Deposit Insurance Agency" state corporation (further - the Agency) offers on participation in the prevention of bankruptcy of bank (further - bank), up to the size of own means (capital).

1. If by the Bank of Russia it is determined that the size of own means (capital) of bank appeared less than the size of the authorized capital of the bank determined by the constituent documents of bank (the daleeustavny capital) registered in accordance with the established procedure, the Bank of Russia has the right to make the decision on reduction of the size of the authorized capital of bank up to the size of own means (capital) if by the time of adoption of this decision founders (participants) of bank did not make the decision on reduction of the size of the authorized capital of bank.

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