Monitoring of the Federal Legislation dated 14.10.2008

Federal Law No. 173-FZ of October 13, 2008 on the Additional Measures to Support the Financial System of the Russian Federation

Additional measures are taken to support the Russian financial system in the presence of the world financial crisis.

Federal Law No. 172-FZ of October 13, 2008 on the Amendments to Article 174 of Part 2 of the Tax Code of the Russian Federation

VAT amounts accrued with taxpayers in the quarterly tax declarations must by transferred to the budget in equal portions no later than the 20th of each of the three months.

Federal Law No. 171-FZ of October 13, 2008 on the Amendments to Article 46 of the Federal Law on the Central Bank of the Russian Federation (Bank of Russia)

The Bank of Russia is empowered with authority to grant credits without the backing for up to six months to Russian credit organisations with a rating above the specified level.

Direction of the Central Bank of Russia No. 2048-U of October 3, 2008 on the Amendments to the Regulation of the Bank of Russia No. 312-P of November 12, 2007 on the Procedure for the Bank of Russia to Grant Credits Secured with Assets to Credit Organisations

Adjusts the procedure for the Bank of Russia to grant credits secured with assets to credit organisations.

Direction of the Central Bank of Russia No. 2080-U of September 26, 2008 on the Amendments to the Regulation of the Bank of Russia No. 258-P of June 1, 2004 on the Procedure for the Residents to Submit to the Authorised Banks Documents and Information of Confirmation Pertaining to Currency Operations with Non-Residents under Foreign Trade Transactions and for the Authorised Banks to Control Currency Operations

Adjusts the procedure of submission by residents to the authorised banks confirming documents and information pertaining to currency operations with non-residents under foreign trade transactions and of implementation of control by the authorised banks over currency operations.

Direction of the Central Bank of Russia No. 2075-U of September 24, 2008 on the Amendments to the Instruction of the Bank of Russia No. 105-I of August 25, 2003 on the Procedure for the Authorised Representatives of the Central Bank of the Russian Federation to Carry out Checks of Credit Organisations (Branches Thereof)

Amends the procedure to carry out checks of credit organisations (branches thereof).

Direction of the Central Bank of Russia No. 2073-U of September 23, 2008 on the Amendments to the Regulation of the Bank of Russia No. 266-P of December 24, 2004 on the Issuance of Bank Cards and Operations Carried out Using Pay Cards

Refines the procedure of issue of bank cards and carrying out operations using pay cards.