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New version of conditions for issue and repayment of Bank of Russia loans published

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The new version of the Terms and Conditions for the Issue and Repayment of Bank of Russia Loans Backed by Securities or Credit Claims (hereinafter, the Terms and Conditions) will be applied beginning on 1 April 2022.

The document was prepared because of the transition from 1 April 2022 to the use of credit ratings instead of classification groups in the course of Bank of Russia operations to provide liquidity to credit institutions. The new version specifies cases where the Bank of Russia has grounds to demand early repayment of Bank of Russia loans by a credit institution (Clause 23.1 of the Terms and Conditions).

The Bank of Russia also released a new version of the form of the agreement on participation in operations for the issue and repayment of Bank of Russia loans backed by securities or credit claims (hereinafter, the agreement) to be applied since 10 February 2022.

In order to bring the agreements earlier signed with credit institutions in compliance with the new version of the agreement, the Bank of Russia will send them addenda to the agreements for signing.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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