On Feb. 28, RUS GVT expanded the functions of the board of directors.
RUS GVT published law 18-FZ on amendments to certain regulatory acts of Russia in terms of expanding the list of functions of the Board of Directors of RUS CB.
Key Points
The law grants the Board of Directors of RUS CB the authority to determine the list of types of foreign currency that may be contributed as payment for the authorized capital of credit institutions, insurance organizations and non-state pension funds.
The board is granted the right to establish maximum size of the share of authorized capital that can be paid in forex and the type of forex used for these purposes.
Effectiveness
The law enters into force on Mar. 30, 2025 (30 days after official publication).
