MIL OSI – Source: Central Bank of the Russian Federation in English – Press Release/Statement
Headline: On the list of organisations’ types of activities for the purpose of compliance with Bank of Russia Regulation No. 312-P (4/18/2017)
Given banking sector liquidity surplus, the Bank of Russia decided to narrow down the list of types of activities that could be recognised as key activity of a company audited for compliance with the requirements of Clause 3.6 of Bank of Russia Regulation No. 312-P, dated 12 November 2007, ‘On the Procedure for Extending Bank of Russia Loans Secured by Assets or Guarantees to Credit Institutions’.
Since 1 August 2017, the said list will include the types of economic activity set out in Sections A — J and M of the All-Russian Classifier of Types of Economic Activity (OKVED 2) OK 029-2014 (KDES Version 2).
If an audit is conducted in respect of a person bearing joint responsibility with the promisor (borrower) for payments under the promissory note (the principal repayment) as a person liable under the promissory note (the principal repayment) as a person liable under the promissory note (loan agreement), the promisor (borrower) should not be engaged in the types of activity indicated in Section K of OKVED 2.