INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of March 9, 2016 No. 3973-U

About modification of the Instruction of the Bank of Russia of November 16, 2014 No. 3444-U "About procedure for investment of means of insurance reserves and the list of the assets permitted for investment"

1. Bring in the Instruction of the Bank of Russia of November 16, 2014 No. 3444-U "About procedure for investment of means of insurance reserves and the list of the assets permitted for investment", registered by the Ministry of Justice of the Russian Federation on December 22, 2014 No. 35297 ("the Bulletin of the Bank of Russia" of December 26, 2014 No. 114), the following changes.

1.1. To state subitem 6.17 of Item 6 in the following edition:

"6.17. Mortgage securities.";

1.2. In Item 7:

in subitem 7.1:

the paragraph one to state in the following edition:

"7.1. The securities specified in subitems 6.2 - 6.6 Items 6 of this Instruction, except for the bonds specified in paragraph four of this subitem, belonging to the assets which are in the territory of the Russian Federation shall correspond to one of the following requirements:";

add with the paragraph of the following content:

"bonds are issued by the issuer who is the concessionary according to the concessionary agreement signed in accordance with the legislation of the Russian Federation about concessionary agreements according to which concedent is the Russian Federation either the subject of the Russian Federation, or the municipality with population more than one million people, and the amount of nominal values of all bonds of this issuer which are in circulation for every day does not exceed 110 percent of the volume of investment provided by all concessionary agreements signed by this issuer.";

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