CBR sets foreign bank capital procedures

The Russian central bank has established procedures for Russian bank participation in the charter capital of foreign banks.

The procedures are formed and operating according to the legislation of OECD member states and/or the Financial Action Task Force on money laundering (FATF) that are not Russian bank subsidiaries.

In accordance with instruction No. 1220-U, published Wednesday in Central Bank Review No. 5 (657), banks with a general license have the right to acquire shares in the foreign banks

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