OREANDA-NEWS.  June 20, 2012. The Government of the Russian Federation passed No. 542 Decree “On Changing and Annulment of Some Acts of the Government of the Russian Federation”. The Decree changes asset values parameters of credit organizations for the purposes of antimonopoly control that were specified in No.335 Decree of the Government of the Russian Federation “On Establishing Asset Value of Credit Organizations for the Purposes of Antimonopoly Control” of 30th May 2007, reported the press-centre of FAS Russia. 

For instance, preliminary approvals of the antimonopoly authority now must be sought for transactions, other actions specified in Articles 27-29 of the Federal Law “On Protection of Competition”, if asset value of credit organizations exceeds 22.0 billion Rubles (earlier - 33.0 billion Rubles).

It is necessary to notify the antimonopoly authority about exercising transactions and actions in the cases specified in Clause 6 Part 1 Article 30 of the Federal Law “On Protection of Competition”, if the asset value of a credit organization exceeds 2.0 billion Rubles (earlier – 2,5 billion Rubles).

Now asset values of credit organizations shall be determined on the basis of balance sheet data (state in a disclosure form), rather than on the basis of a turnover balance sheet according to the book records of credit organizations.

Changes are also introduced to No.334 Decree of the Government of the Russian Federation “On Establishing Asset Value of Financial Organizations (Except Credit Organizations) for the Purposes of Antimonopoly Control” of 30th May 2007. Therefore, threshold asset values are now also determined for micro-financial organizations.

Preliminary approvals by the antimonopoly authority in order to exercise transactions and other actions specified in Articles 27-29 of the Federal Law “On Protection of Competition” must also be obtained if the asset value of a micro-financial organization is over 3 billion Rubles.

The antimonopoly authority also must be notified about exercising transactions and other actions specified in Article 30 of the Federal Law “On Protection of Competition” if the asset value of a micro-financial organization exceeds 500 million Rubles.

Parameters of asset value for micro-financial organizations will be reconsidered annually upon approvals by the Ministry of Finances and the Federal Financial Market Service in accordance with the data about the growth rate of the aggregate asset value of micro-financial organizations of the Russian Federation for the last year.

No. 542 Decree of the Government of the Russian Federation “On Changing and Annulment of Some Acts of the Government of the Russian Federation” of 1st June 2012 comes into force 7 days after the date of its official publishing.