OREANDA-NEWS. May 07, 2009. The Federal Antimonopoly Service (FAS Russia), upon agreement with the Central Bank of the Russian Federation, has submitted proposals to the Government of the Russian Federation on changing the threshold asset value of credit organisations for preliminary approval by the antimonopoly authority of mergers and acquisitions of credit organisations as well as transactions with shares (stock), assets and rights of credit organisations, as specified in No.335 Decree of the Government of the Russian Federation of 30th May 2007 "On Determining the Asset Values of Credit Organisations and the Total Share of Credit Organisations on the Goods Market for the Purposes of Antimonopoly Control", reported the press-centre of FAS Russia.

In particular, FAS Russia proposes increasing the earlier established threshold values, based on the achieved rate of growth of the aggregate asset value of credit organisations in the Russian Federation in 2008 and maintaining the level of antimonopoly control год (a draft Decree of the Government of the Russian Federation "On Introducing Amendments to No.335 Decree of the Government of the Russian Federation").

For instance, it is supposed that preliminary approvals of the antimonopoly authority will be required if the total asset value of credit organisations according to the balance sheet on the closing date is more than 24 billion Rubles (previously the threshold was - more than 14 billion Rubles).

Approvals of transactions with shares (stock) and assets of a credit organisation or the rights of a credit organisation will be required if the asset value according to the balance sheet on the closing date exceeds 6 billion Rubles (previously - more than 4 billion Rubles).

"Increasing the asset value of credit organizations is economically efficient because it prevents creating an additional administrative barrier", says Yulia Bondareva, the Head of the FAS Russia's Department for Control over Financial Markets.

In her opinion, this measure will prevent additional administrative burden on the credit organisations that previously were not subject to antimonopoly control and whose activities cannot adversely affect competitive environment.