INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of April 11, 2016 No. 3991-U

About modification of the Provision of the Bank of Russia of August 4, 2003 No. 236-P "About procedure for provision by the Bank of Russia to credit institutions of the credits provided with pledge (blocking) of securities"

1. Bring in the Provision of the Bank of Russia of August 4, 2003 No. 236-P "About procedure for provision by the Bank of Russia to credit institutions of the credits provided with pledge (blocking) of securities" registered by the Ministry of Justice of the Russian Federation on August 29, 2003 No. 5033, on September 15, 2004 No. 6026, on October 18, 2005 No. 7081, on June 25, 2008 No. 11873, on December 12, 2011 No. 22543, on April 28, 2012 No. 23992, on December 11, 2013 No. 30588, on February 3, 2014 No. 31211, on December 1, 2014 No. 35044, on October 8, 2015 No. 39222 ("the Bulletin of the Bank of Russia" of November 19, 2003 No. 62, of November 3, 2004 No. 63, of October 26, 2005 No. 56, of July 2, 2008 No. 35, of December 19, 2011 No. 71, of December 19, 2012 No. 73, of December 24, 2013 No. 77, of February 12, 2014 No. 13, of December 24, 2014 No. 113, of October 21, 2015 No. 91), the following changes.

1.1. In Item 1.1:

the fourth to state the paragraph in the following edition:

"Authorized institution of the Bank of Russia - the division of the Bank of Russia appointed by the administrative act of the Bank of Russia.";

twenty third to state the paragraph in the following edition:

"-the legal entity having the status of the central depositary in accordance with the legislation of the Russian Federation;".

1.2. To state subitem 3.6.2 of Item 3.6 in the following edition:

"3.6.2. at the time of adoption by the Bank of Russia of the decision on loan granting to bank and at the time of loan granting of Bank of Russia bank answers criteria of Item 3.5 of this provision;".

1.3. To state subitem 3.7.3 of Item 3.7 in the following edition:

"3.7.3. belong to bank on the property right, are not encumbered with obligations of bank to the third parties, concerning securities there are no disputes and requirements imposed in accordance with the established procedure;".

1.4. The paragraph one of Item 3.8 to declare invalid.

1.5. The paragraph one of Item 3.15 to state in the following edition:

"3.15. Return of the credits by bank overnight and the lombard credits is performed in the terms specified in the Notice (except for case when the lombard credits are repaid by bank ahead of schedule on own initiative or upon the demand of the Bank of Russia), according to the procedure, established by the general credit agreement. Interest payment on the credits overnight and to the lombard credits is performed in the terms established by the general credit agreement.".

1.6. In Item 3.20 of the word "in time no later than one working day about day of change of time of carrying out transactions" shall be replaced with words "or by publication of the relevant information on the official site of the Bank of Russia on the Internet.

1.7. In paragraph one of Item 5.3 of the word "and in other mass media" shall be replaced with words "or on the official site of the Bank of Russia on the Internet.

1.8. State Item 5.4 in the following edition:

"5.4. In case of exhaustion of the volume of credit offered for auction, the Bank of Russia can reduce in proportion the amount of each competitive request in which the interest rate accepted by the Bank of Russia as cutting off rate in the list of the competitive requests which are subject to satisfaction is specified. At the same time competitive requests of banks can partially be satisfied.

The Bank of Russia can also partially satisfy the request which won on lombard credit auction if on the date of provision of the lombard credit by results of lombard credit auction of the market value of the securities selected as a deposit on the corresponding credit of the Bank of Russia, corrected on the correction coefficients established by the Bank of Russia it is not enough for loan granting of the Bank of Russia in the amount specified in the request.".

1.9. Add Item 5.7 with words "or on the official site of the Bank of Russia on the Internet.

1.10. State Item 7.4 in the following edition:

"7.4. In case of loan granting overnight the Bank of Russia sends to Depositary the order of "depot" on transfer of the securities pledged on the credit overnight from the Section "It Is Blocked by the Bank of Russia" of the custody account of the bank in Depositary corresponding to the key account of bank into which the specified loan overnight, in the mortgage Section opened on the specified custody account and intended for accounting of the securities which are in pledge on the credit overnight is granted.

By provision of the lombard credit the Bank of Russia sends to Depositary the order of "depot" on transfer of the securities pledged on the lombard credit from the Section "It Is Blocked by the Bank of Russia" of the custody account of the bank in Depositary corresponding to the key account of bank into which the specified lombard loan, and (or) from the mortgage Section intended for accounting of the securities which are in pledge on other lombard loan granted according to this Provision in the mortgage Section opened on the specified custody account and intended for accounting of the securities which are in pledge on the lombard credit is granted.".

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