On 28 February 2009 the President signed Federal Law No. 28-FZ amending the Federal Law "On Banks and Banking Activities". The Law came into force on 15 March 2009.
The Law sets out:
The minimum charter capital for newly-established banks.
The minimum net worth (capital) for existing banks and non-banking credit organisations seeking to become banks in rubles in the amount of RUB180 million (which is equal to the previous minimum of EUR5 million at the rate of RUB36 per euro).
Further, it increases the minimum net (worth) capital for banks applying for a general banking license to RUB900 million (which is equal to EUR25 million as opposed to EUR5 million previously).
The Law also requires the gradual increase of the net worth (capital) by banks that had a net worth (capital) of less than EUR5 million as of 1 January 2007 (such banks were allowed to continue their banking activities provided their net worth (capital) reached at that date would not further decrease). Their net worth (capital) must be at least:
RUB90 million as of 1 January 2010.
RUB180 million as of 1 January 2012.
Failure to comply with this requirement will result in revocation of the bank’s banking licence.
On 14 March 2009, the President signed Federal Law No. 31-FZ "On the State Registration of Rights to Aircraft and Transactions Therewith". The Law will enter into force on 14 September 2009.
The Law provides for the state registration of rights to aircraft and transactions with them (by analogy with the state registration of rights to immovable property and transactions with it). The state registration requirement applies to:
Aircraft subject to state registration under the Air Code.
State aircraft used for commercial purposes.
Under the Law, rights to aircraft (such as ownership) and transactions with them (such as leases or mortgaging) will be subject to state registration in the Unified State Register of Aircraft and Transactions Therewith. The information contained in the register will be publicly available. The rules on maintaining the register and the list of documents to be submitted for state registration will be established by the government.
Rights to aircraft that arise before 14 September 2009 (the date the law enters into force) and transactions with them are deemed valid without the state registration. However, if the aircraft is subject to transactions after this date, rights to it will have to be registered (because the transactions may be registered only after the rights to the aircraft are registered).
On 19 March 2009, the Government published the programme of anti-crisis measures for 2009. The programme is available (in Russian) on the Government's website.
Under the programme, the Government will proceed with the following priorities:
The state must fully perform its public obligations (in particular, strengthen social security and resist unemployment growth).
Industrial growth to continue (in particular, agricultural, transportation and housing construction sectors to be supported).
Domestic demand to increase (in particular, at the expense of state procurement).
Modernisation of the Russian economy to continue (in particular, innovative technologies to be developed).
Administrative barriers for businesses to be reduced (in particular, with respect to small and medium-sized enterprises).
Stability of the financial sector (including the banking system and securities market) to be supported.
Balanced monetary policy to be conducted and inflation to be decreased.
The programme describes both the anti-crisis measures already adopted in 2008 and planned for 2009.