Monitoring of the Federal Legislation dated 28.10.2008

Federal Law No. 176-FZ of October 27, 2008 on the Amendments to the Federal Law on the Central Bank of the Russian Federation (Bank of Russia) and Article 12 of the Federal Law on the Securities Market

The Bank of Russia is empowered with authority to participate without the license in the tenders at stock exchanges and/or other organised securities markets.

Federal Law No. 175-FZ of October 27, 2008 on the Additional Measures to Enhance Stabilisation of the Banking System for the Period until December 31, 2011

The Central Bank of Russia and the state corporation Deposit Insurance Agency are authorised to take measures to prevent bankruptcy of banks.

Direction of the Central Bank of Russia No. 2104-U of October 23, 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

Abandons the crediting limit for the credits provided for up to 30 calendar days inclusive.

Direction of the Central Bank of Russia No. 2103-U of October 23, 2008 on the Interest Rates for the Deposit Operations of the Bank of Russia

From October 24, 2008, increases the interest rates for the deposit operations of the Central Bank of Russia.