Russia : Registration of Credit Institutions and Licensing of Banking Activities

This is the official document of the Russian Federation. The paper details all regulatory aspects of registration of credit institutions and licensing of banking activities.

The document reports on the authorities regulating the procedure for registration of credit institutions and licensing of banking activities:

• The Federal law on the State Registration of Legal Entities;
• Federal Law on Central Bank of Russian Federation (Bank of Russia);
• Federal Law on Banks and Banking activities;
• Federal Law on Amending Legislation.

Further, the document states that:

• Credit institutions are setup as economic entities in the form of bank and non-bank credit institutions;
• The Bank of Russia makes decisions on issues relating to State registration of credit institutions;
• The management bodies of credit institutions are:
  • General meeting of the founders;
  • The Board of Directors (Supervisory body);
  • A one-man executive body and a collegiate executive body.

Finally, the paper lists:

• All the licenses that may be granted to the credit union;
• The articles regulating different facets of credit institutions.