Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
Ukraine’s finance ministry files appeal to London Court against Russia in $3 bln debt caseBusiness & Economy June 23, 18:42
Ukrainian society tired of Poroshenko’s policy — expertRussian Politics & Diplomacy June 23, 17:58
Deutsche Welle sees Russian international broadcasters as threat to European ideasWorld June 23, 17:34
Watchdog claims Telegram provides means of communication to terroristsBusiness & Economy June 23, 16:45
MOSCOW, April 02, /ITAR-TASS/. President Vladimir Putin on Wednesday, April 2, signed the Federal Law “On Special Operation of the Financial System in the Republic of Crimea and City of Federal Importance Sevastopol during the Transition Period”.
The law sets out the special features for operation of banks, non-bank financial institutions and currency exchange offices during the transition period in Crimea and Sevastopol. The law sets out the particular provisions applying to them concerning state registration, obtaining licences, cessation of activity, and also the particular rules for circulation of securities issued by organisations located in Crimea and Sevastopol.
Banks and other financial institutions will be able to continue their activities in Crimea and Sevastopol until January 1, 2015, without having to obtain a licence from the Russian Central Bank, be included in the state register kept by the Central Bank, or admitted to a self-regulating organisation, if the institutions carry out obligations arising from earlier agreements and respect other conditions set by the federal law.
The law also sets procedures for insurance organisations operating in Crimea and Sevastopol to carry out their obligations.
Putin also signed the Federal Law “On Protection of Interests of Retail Depositors at Banks and Their Economically Autonomous Structural Subdivisions registered in and/or operating on the territory of the Republic of Crimea or the Territory of the City of Federal Importance of Sevastopol”.
The law protects the interests of individuals (including non-corporate entrepreneurs) residing on the territory of the Republic of Crimea and in Sevastopol and holding deposits at banks and their structural subdivisions registered and operating on the territory of the Republic of Crimea and Sevastopol.
To implement the law, the Deposit Insurance Agency state corporation is creating an autonomous non-profit organisation Depositor Protection Fund, which is authorised to make compensation payments to depositors by acquiring their deposit rights.