Monitoring of the Federal Legislation dated 13.09.2001

Decree of the President of the Russian Federation No. 1093 of September 4, 2001 on the Invalidation of Some of the Decrees of the President of the Russian Federation

Invalidates the Decrees of the President of the Russian Federation recommending up to 50% reduction from August 1, 1998 of tariff rates for electric power and natural gas for industrial consumers and consumers financed out of budgets of all levels providing for 100% payment with money. The Decree is entered into force from the day of signing.

Letter of the Central Bank of Russia No. 18-OR of September 5, 2001 ~Official Explanation of the Application of the Letter of the Bank of Russia No. 127 of December 8, 1994 on the Procedure for Creating Reserves for Depreciation of Securities~

Explains that the reserve for depreciation of securities that failed state registration, i.e. being out of circulation, must not be created. This is because the depreciation may apply only to securities circulating at the organized or unorganized market.