Putin signed the law on the right of the Central Bank to give ASV loans without collateral

© RIA Novosti / Natalia to Seliverstova in fotobanka the building of the Central Bank of the Russian Federation. Archival photoPutin signed the law on the right of the Central Bank to give ASV loans without collateral© RIA Novosti / Natalia to Seliverstova the image Bank

The President of Russia Vladimir Putin signed the law on auditor interaction of banks with the Bank of Russia, which allows for the provision of Central Bank credits without providing the Agency on insurance of contributions (ASV) for any purpose, the corresponding document published on the official portal of legal information.

The document does open a list of goals that the Central Bank may, at the decision of the Board of Directors of ASV to provide loans without collateral for up to five years.

Currently, such loans are extended for ensuring financial stability of system of insurance of contributions, funding the payment of refunds on deposits, the implementation of measures for prevention of bankruptcy of banks or settlement of their obligations.

The law specifies that such loans may be granted and in «other purposes,» thus making a list of goals open.

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