Licensing (Banking)
1. Licenses issued by the Central Bank of the Russian Federation:
• Are the grounds for carrying out banking operations;
• Are accounted in the register of the issued banking licenses, subject to be published in the official publication of the Central Bank of the Russian Federation (Vestnik Banka Rossii) at least once a year. Changes and additions to the said register are published by the Central Bank of the Russian Federation in a month from the date of their adding to the register;
• Contain the list of banking operations allowed to the particular lending institution as well as currency in which those banking operations may be carried out;
• Are issued without restriction of their term of validity.
Banking operations carried out by a legal entity without a license involve collection from such an entity of all the amount received as a result of such operations, and also exaction of a penalty in the double size of that amount to the federal budget. Collection is made judicially under the claim of the public prosecutor or the appropriate federal executive agency authorized to do so by the federal law, or the Central Bank of the Russian Federation. The Central Bank of the Russian Federation have the right to request the arbitration court to disband the legal entity engaged in banking operations without a license. Those citizens involved in illegal banking operations bear the appropriate civil, administrative or criminal liability.
2. There are the following types of banking licenses:
• a license for carrying out banking operations in rubles;
• a license for attracting deposits and placement of precious metals;
• a license for attracting deposits from individuals in rubles and in foreign currencies;
• a license for collection;
• a license for carrying out banking operations in rubles and in foreign exchange;
• a license for attracting deposits from individuals in rubles.
3. A newly founded bank may be provided with licenses to:
• carry out banking operations in rubles (without the right to attract deposits from individuals);
• carry out banking operations in rubles and in foreign exchange (without the right to attract deposits from individuals). Such license allows the bank to establish correspondence relations with unlimited number of foreign banks;
• attract deposits and place precious metals. Such license may be issued to a bank simultaneously with the license to carry out banking operations in rubles and in foreign exchange. Depending on its appointment, the following types of licenses may be issued to a newly founded non-banking lending institution:
• banking operations in rubles or in rubles and in foreign exchange for settlements of non-banking lending institutions;
• collection of cash, bills, payment and calculation documents for non-banking lending institutions engaged in collection.
• subsequently the received licenses are replaced with the general document - the general license granting the right to carry out any banking not forbidden by the law.
Related practices
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30.07.2010
