FAS Proposes to Increase Asset Value of Credit Organizations
OREANDA-NEWS. May 17, 2010. The Federal Antimonopoly Service (FAS Russia), upon agreement with the Central Bank of the Russian Federation, the Ministry of Economic Development of the Russian Federation and the Ministry of Finances of the Russian Federation, introduced for consideration of the Government of the Russian Federation a draft Decree "On Introducing Amendments to No.335 Decree of the Government of the Russian Federation of 30th May 2007", reported the press-centre of FAS Russia.
In the draft Decree FAS Russia proposes to reconsider the asset value of credit organizations specified in Clauses 1-4, 5.1 and 6 of No.335 Decree of the Government of the Russian Federation "On Establishing Asset Values of Credit Organizations for the Purposes of Antimonopoly Control" of 30th May 2007 based on the achieved growth rate of the cumulative asset value of credit organizations in the Russian Federation in 2009 maintaining the same level of antimonopoly control.
In particular, FAS Russia proposes the following threshold asset value of credit organizations:
- 33.0 billion Rubles for control over mergers or acquisitions of credit organizations as well as formation of a commercial organization, the authorized capital of which comprises stock (shares) and (or) property of the credit organization as an investment (Clauses 1, 2 and 4 of the Decree);
- 33.0 billion Rubles for preliminary control of transactions with stock (shares), assets of a credit organization or the rights regarding a credit organization (Clause 3 of the Decree);
- 2.5 billion Rubles for notification control over transactions, other actions in the cases specified by Clause 6 Part 1 Article 30 of No.135-FZ Federal Law "On Protection of Competition" of 26th July 2006 (Clause 5.1. of the Decree);
- 390.0 billion Rubles for control over agreements between financial organizations (Clause 6 of the Decree).
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