The Ministry of Finance has prepared a draft of the division of banks on a universal and basic

Минфин подготовил проект о разделении банков на универсальные и базовые

The Ministry of Finance of Russia has prepared the project, which involves the separation of credit institutions by size of capital in the organization of universal and basic licenses, should be published on the portal of projects of normative acts of the document.

From 1 January 2018 for banks with a base license is the minimum amount of own funds will amount to 300 million rubles. The list of transactions for such banks include attracting funds of individuals and legal entities in deposits without limitation, the placement of these funds to the residents of the Russian Federation, natural persons, subjects of small and medium enterprises, credit institutions and others. Limit the amount of capital for the Bank with the base license will amount to 3 billion rubles.

The Bank will be able to voluntarily apply for the replacement of the basic license to a license with universal range of banking services in achieving equity of 1 billion rubles. Thus, it will be able to expand the list of permitted operations, while respecting the requirements for such banks requirements in full.

The explanatory note States that the Central Bank will prepare changes in laws and regulations with simplified regulatory requirements for credit institutions, eligible Bank with a basic license. The Bank, lost the universal license to continue banking operations and transactions not permitted to the Bank with a basic license or a non-Bank credit organization, to the termination of the contracts, but not more than 5 years.

The draft Federal law also provides for the establishment of the Bank of Russia of individual norms of compulsory reserves and the ratio of averaging the required reserves for banks with General license and banks with a basic license.

All banks with the entry into force of this Federal law will be recognized by banks with General license. Banks with capital less than 1 billion to continue its activities shall be no later than 1 January 2019 to obtain a basic license.

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