Monitoring of the Federal Legislation dated 11.06.2008

Decision of the Government of the Russian Federation No. 441 of June 7, 2008 on the Amendments to Some Acts of the Government of the Russian Federation on the Issues of Activities of the Ministry of the Industry and Trade of the Russian Federation

The amendments are stipulated by the creation of the Ministry of the Industry and Trade of the Russian Federation.

Decision of the Government of the Russian Federation No. 437 of June 5, 2008 on the Ministry of Economic Development of the Russian Federation

The Ministry of Economic Development of Russia is a federal body of executive power in charge of the working out of the state policy in the sphere of analysis and forecasting of the socio-economic development, development of entrepreneurial activities, including the medium and small businesses, foreign economic activities (except for the foreign trade).

Direction of the Central Bank of Russia No. 2011-U of May 16, 2008 on the Amendments to the Direction of the Bank of Russia No. 1594-U of July 14, 2005 on the List, Forms and Procedure of Drawing up and Submission of Reports of Liquidated Credit Organisations to the Central Bank of the Russian Federation

The amendments are stipulated by the need to improve opportunities of analysis of reports of bankruptcy commissioners of credit organisations, control over the liquidation procedures.

Direction of the Central Bank of Russia No. 2007-U of May 8, 2008 on the Amendments to the Direction of the Bank of Russia No. 1548-U of February 7, 2005 on the Procedure of Opening (Closing) and Organisation of Work of the Mobile Cash Station of the Bank (Branch)

Mobile stations of cash operations of the bank (branch) may conclude bank account contracts and the bank deposit contract, as well as carry out the following operations: identify the client; accept documents necessary for the opening (closing) of the bank account, deposit account and accept client orders for the resources on the account, in the deposit; check the documents, completeness and correctness of the provided information; draw up the cards with the specimens of signatures and the seal; certify testament orders.

Direction of the Central Bank of Russia No. 2026-U of June 9, 2008 on the Amendments to the Direction of the Bank of Russia No. 1601-U of August 5, 2005 on the Terms for the Bank of Russia to Grant Credits to Credit Organisations Secured with Pledged Promissory Notes, Claims Rights under Credit Contracts of Organisations or Guarantees of Credit Organisations

To confine inflation, increases the interest rates for the credits of the Bank of Russia secured with pledged promissory notes, claims rights under credit contracts of organisations or guarantees of credit organisations.

Direction of the Central Bank of Russia No. 2025-U of June 9, 2008 on the Amendments to the Direction of the Bank of Russia No. 1979-U of February 14, 2008 on the Interest Rate for the Credits Secured with Assets

Increases the amount of the interest rate for the credits of the Central Bank of Russia secured with assets and granted for up to 30 calendar days inclusive.

Direction of the Central Bank of Russia No. 2024-U of June 9, 2008 on the Amount of the Interest Rates for the Lombard Credits of the Bank of Russia

Beginning with June 10, 2008, the interest rate for the lombard credits of the Bank of Russia secured with pledged securities and granted for 1 calendar day is fixed in the amount of 8.75% annual, and for 7 calendar days - 8.75% (if the two latest auctions failed).

Direction of the Central Bank of Russia No. 2023-U of June 9, 2008 on the Amount of the Interest Rate for the Overnight Credit of the Bank of Russia

From June 10, the interest rate for the overnight credit of the Bank of Russia is increased from 10.5% to 10.75% annual.

Direction of the Central Bank of Russia No. 2022-U of June 9, 2008 on the Amount of the Rate of Refinancing of the Bank of Russia

From June 10, 2008, increases again the rate of refinancing of the Central Bank of the Russian Federation to make 10.75% instead of 10.5%.

Direction of the Central Bank of Russia No. 2021-U of June 9, 2008 on the Interest Rates for the Deposit Operations of the Bank of Russia

To regulate the liquidity of the banking system of the Russian Federation, attracts monetary resources of credit organisations in deposits.