FEDERAL LAW OF THE RUSSIAN FEDERATION

of April 5, 2016 No. 88-FZ

About introduction of amendments to articles 24 and 40.1 of the Federal law "About Banks and Banking Activity" and the Federal Law "About Voluntary Declaring by Physical Persons of Assets and Accounts (Deposits) in Banks and about Modification of Separate Legal Acts of the Russian Federation"

Accepted by the State Duma on March 25, 2016

Approved by the Federation Council on March 30, 2016

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; 2009, No. 18, Art. 2153; 2012, No. 31, Art. 4333; 2013, No. 27, Art. 3438; No. 51, Art. 6699; 2014, No. 52, Art. 7543) following changes:

Part the twelfth Article 24 to state 1) in the following edition:

"The sole executive body of credit institution in case of release it from position shall transfer property, databases on electronic media and documents of credit institution to person from among her heads. In case of lack of such face at the time of dismissal of sole executive body it shall ensure safety of property, databases on electronic media and documents of credit institution, having notified the Bank of Russia on the taken measures.";

Article 40.1 to state 2) in the following edition:

"Article 40.1. Ensuring storage of information on activities of credit institution

For the purpose of storage of information on property, obligations of credit institution and their movement the credit institution shall reflect all performed transactions and other transactions in databases in the electronic media allowing to provide storage of information containing in them at least than five years from the date of inclusion of information in databases and to provide possibility of access to such information as of each operational day. The procedure for creation, maintaining and storage of the databases containing such information is established by the Bank of Russia.

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