The Bank of Russia has announced a decision by its Board of Directors regarding the inclusion of securities in the Lombard List. Effective January 1, 2025, securities issued by residents of the Russian Federation will no longer be included if issuers limit their information disclosures beyond what is allowed by federal laws, legal acts from the President and Government of the Russian Federation, or Bank of Russia regulations.
Additionally, securities will also be excluded if they meet disclosure requirements but have fewer than two credit ratings above A-(RU) / ruA- / A-.ru / А-|ru| from different agencies such as ACRA (JSC), JSC Expert RA, NCR, or NRA LLC. This condition does not apply to disclosures about individuals entitled to manage shares in an issuer's authorized capital directly or indirectly.
The exclusion of bonds from these issuers will take effect on June 1, 2025.
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