Russia: Federal Law No. 17-FZ of February 3, 1996 on Introducing the Amendments and Agenda to the Law of the RSFSR on Banks and Banking Activities in the RSFSR

This law is to amend the existing Law of Records of the Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, (RSFSR). The document specifies the provisions in the following 8 chapters:

• Procedure for registration of credit organizations and licensing of banking operations;
• Ensuring of the stability of the banking system, protection of rights, interests of depositors and creditors of credit organizations;
• Inter-bank relations and services to clients;
• Branches, representative offices, and subsidiary organizations of a credit organization on the territory of a foreign state;
• Savings operations such as the:
  • Bank deposits of individuals,
  • Bank depositors,
  • Federal fund of mandatory insurance of deposits,
  • Voluntary deposit insurance funds.

The last chapter, consisting of 4 articles, stipulates the rules of:

• The accounting work in credit organizations;
• Control over their activities.