On 19 June 2009 the Central Bank issued Regulation No. 337-P "On the Procedure and Criteria for Evaluation of Financial Standing of Legal Entities that are Founders (Participants) of Credit Organisations." The Regulation entered into force on 10 August 2009 and invalidated Central Bank Regulation No. 218-P, dated 19 March 2003, on the same matter.

The Regulation sets out the procedure and criteria for evaluating the financial standing of legal entities that acquire shares in a Russian credit organisation (for example, in the course of its establishment, as a result of an increase in its charter capital or as a result of a share purchases on the secondary market).

In particular, it requires that where more than 20% of the credit organisation's shares are acquired on the secondary market, the acquirer's net assets should be no less than a part of the credit organisation's net worth (capital) corresponding to the amount of the acquired shares.

Further, it provides that if the acquirer has a certain credit rating it may submit fewer documents to the Central Bank for it to evaluate its financial standing.

On 19 June 2009, the Central Bank issued Regulation No. 338-P "On the Procedure and Criteria for Evaluation of Financial Standing of Individuals that are Founders (Participants) of Credit Organisations." The Regulation entered into force on 10 August 2009 and invalidated Central Bank Regulation No. 268-P, dated 19 April 2005, on the same matter.

Similar to Regulation No. 338-P with respect to legal entities, this Regulation sets out the procedure and criteria for evaluating the financial standing of individuals who acquire shares in a Russian credit organisation.

In particular, it extends the scope of the individual's income and property that may be used to purchase shares with the income or property of his/her spouse, which constitutes their common property. It also provides that the amount of the individual's income should be reduced by the amount of their investments in shares of credit organisations.