The state Duma will take the three most important law for the banking industry

© Stanislav Krasilnikov/TASS

MOSCOW, April 21. /TASS/. Deputies of the lower house of Parliament will take the third reading three most important law for the banking industry, which will change it radically.

A phased transition to “Peace”

The first bill provides for a phased transition of state employees and retirees on the payment card “the World”. Thus, banks would have to make payments to employees of state-owned enterprises and persons receiving social aid from the Federal budget or state extra-budgetary funds, only with the help of the national payment system “World” .

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For public sector employees, including military personnel, the transition to a national payment system will be implemented until July 1, 2018. This translated into the card “the World” all categories of citizens will start on 1 July 2017.

Last on the card “the World” will enter retired prior to July 1, 2020. The issuance and service of cards for this category of citizens will be free.

A new resolution mechanism

Another legislative initiative involves the establishment of the Bank of new structure – Fund consolidation of the banking sector for financing of rehabilitation of credit organizations within the framework of measures to prevent their bankruptcy.

Currently, the rehabilitation of credit organizations engaged in Agency on insurance of contributions (ASV), which receives for this purpose the loan funds from the Bank of Russia, and then at preferential rates gives them selected on a competitive basis to banks-sanatory.

Under the new scheme of reorganization of the funds through the Foundation will go directly to the capital of reorganized institutions. The management company, the establishment of which it is also assumed the bill will be to make decisions about investments in the capital of reorganized Bank, and subsequent sale of its shares.

After the completion of the reorganization the sale of the banks to the new owner at a public auction organized by the Bank of Russia.

The division of banks licenses

The third bill provides for the separation of Russian banks by type of license – basic or universal.

According to the document, with the entry into force of the law to all applicable Russian banks recognised banks with a universal licence.

For other credit institutions from 1 January 2018 sets out the rules stipulating the minimum capital of the Bank with General license at 1 billion. The requirements for these banks will apply in full.

For banks with a base license is the minimum size of own means will make 300 million rubles. They will apply a simplified regulation. In addition, such banks will not be able to implement a number of banking operations with foreign legal and physical persons.

Upon reaching the Bank with a basic license of capital to 1 billion rubles the Bank will be able to request the replacement of the base license on the mainframe.

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