Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 2.03.2011

Federal Law No. 22-FZ of March 1, 2011 on the Amendments to Article 5 of the Federal Law on Science and State Science and Technical Policy and Article 17.1 of the Federal Law on the Protection of Competition

State (municipal) institutions of higher education are permitted to create economic companies.

Direction of the Central Bank of Russia No. 2586-U of February 25, 2011 on the Interest Rate for the Credits Secured with Assets or Guarantees

Increases by 0.25 percentage points the interest rates for the credits of the Central Bank of Russia secured with assets or guarantees.

Direction of the Central Bank of Russia No. 2585-U of February 25, 2011 on the Interest Rate for the Deposit Operations of the Bank of Russia

Increases the fixed interest rates for the deposit operations of the Central Bank of Russia to make 3% annual.

Direction of the Central Bank of Russia No. 2584-U of February 25, 2011 on the Interest Rate for the Overnight Credit of the Bank of Russia

Increases the rate for the overnight credit of the Bank of Russia from 7.75% to 8% annual.

Direction of the Central Bank of Russia No. 2583-U of February 25, 2011 on the Rate of Refinancing of the Bank of Russia

The rate of refinancing of the Bank of Russia is increased from 7.75% to 8% annual.

Direction of the Central Bank of Russia No. 2582-U of February 25, 2011 on the Normatives of Obligatory Reserves (Reserve Requirements) of the Bank of Russia

Increases the normatives of obligatory reserves of credit organisations deposited in the Central Bank of Russia.

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