On 27 October 2009 the Central Bank issued Directive No. 2312-U (amending Directive No. 1379-U, dated 16 January 2004) and Regulation No. 345-P.

The Directive and the Regulation entered into force on 27 December 2009.

The Directive and the Regulation follow amendments to the Law on Insurance of Individual Bank Deposits, which entered into force on 27 December 2009 (Federal Law No. 270-FZ, dated 22 December 2008). The amendments introduce an additional requirement for banks to participate in the system of mandatory insurance of individual bank deposits – namely, the disclosure of information on persons that significantly impact (directly or indirectly) the decisions of the bank's management bodies.

According to the Directive, a bank must disclose the above information by publishing it either on the Central Bank's website or on the bank's website. The scope of information to be published includes the name, place of residence and some other data identifying persons that significantly impact the bank's management decisions.

If a bank chooses to disclose the information on the Central Bank's website, it must follow the procedures set out in the Regulation. Namely, the bank must submit to the Central Bank not only the list of persons that significantly impact the bank's management decisions, but also a flowchart showing the bank's ownership structure, including its ultimate owners. The Regulation contains examples of how to complete the list and flowchart.