Foreign banks and their branches are representative offices. Branches and representative offices of foreign banks. joint financial and industrial groups

A branch of a credit institution is its separate subdivision located outside the location of the credit institution and carrying out on its behalf all or part of the banking operations stipulated by the license of the Bank of Russia issued to the credit institution.

The representative office of a credit institution is its separate subdivision, located outside the location of the credit institution, representing its interests and protecting them. A representative office of a credit organization is not entitled to carry out banking operations.

Branches and representative offices of a credit institution are not legal entities and carry out their activities on the basis of regulations approved by the credit institution that created them.

The heads of branches and representative offices are appointed by the head of the credit institution that created them and act on the basis of a power of attorney issued to them in the prescribed manner.

A credit institution opens branches and representative offices in the Russian Federation from the moment of notification of the Bank of Russia. The notice shall indicate the postal address of the branch (representative office), its powers and functions, information about the managers, the scale and nature of the planned operations, as well as an imprint of its seal and sample signatures of its leaders. Information about the address and location of branches and representative offices is published by the credit institution and the Bank of Russia on their official websites in the information and telecommunications network "Internet" in accordance with the procedure established by the Bank of Russia.

(see text in previous edition)

(see text in previous edition)

Branches of a credit institution with foreign investment in the territory of the Russian Federation shall be registered by the Bank of Russia in accordance with the procedure established by it.

An internal structural subdivision of a credit institution (its branch) is its (its) subdivision located outside the location of the credit institution (its branch) and carrying out banking operations on its behalf, the list of which is established by the regulations of the Bank of Russia, under the license of the Bank of Russia issued by the credit organizations (regulations on a branch of a credit institution).

Credit institutions (their branches) have the right to open internal structural subdivisions outside the locations of credit institutions (their branches) in the forms and procedure established by Bank of Russia regulations.

The authority of a branch of a credit institution to make a decision to open an internal structural subdivision must be provided for by the regulation on the branch of a credit institution.

Representative offices of foreign credit institutions opened in the Russian Federation are subject to accreditation by the Bank of Russia in accordance with the procedure established by it. A representative office of a foreign credit institution has the right to carry out activities on the territory of the Russian Federation from the moment of its accreditation by the Bank of Russia.

The Bank of Russia, in accordance with the procedure established by it, carries out the actions provided for by the Federal Law "On Personal Data" for the processing of personal data of the head and deputy head of a representative office of a foreign credit institution opened in the territory of the Russian Federation, and candidates for these positions.

Branches and representative offices of foreign credit organizations are part of the Russian banking system of the Russian Federation.

The Bank of Russia directly resolves the issue of the expediency of the participation of branches and representative offices in the banking system and their functioning on the territory of the Russian Federation.

The issue of branches of foreign banks is regulated by several rules. In ch. IX “International and foreign economic activity of the Bank of Russia” of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” (Article 52), among other things, it is said that the Central Bank of the Russian Federation issues permits for the creation of credit institutions with foreign investments. It issues permission to open branches of foreign banks. A branch of a credit institution is a separate subdivision located outside the location of the credit institution and carrying out on its behalf all or part of the banking operations stipulated by the license of the Central Bank of the Russian Federation issued to the credit institution.

A representative office of a credit institution is a separate subdivision located outside the location of a credit institution, representing its interests and protecting them.

Currently, there is not a single branch of a foreign credit organization in Russia. And in all developed banking systems of the West there are no branches of Russian banks.

Today in Russia the share of credit institutions with a controlling stake of foreign capital is 8.1%. This indicator has decreased - at the beginning of 2000 it reached 10.6%. Such banks attract 2.3% of the funds of individuals and 10.3% of the funds of enterprises and organizations. It can be concluded that, having indicated its strategic presence in the Russian market, foreign capital continues to take a wait-and-see attitude.

The situation is different with the representative offices of foreign credit institutions on the territory of the Russian Federation. In practice, there are already quite a lot of such representations. Their creation and operation procedure are determined by federal laws and regulations of the Central Bank of the Russian Federation.

A representative office is created by a foreign credit institution in order to study the economic situation and the situation in the Russian banking sector, to provide consulting services to its clients, maintain and expand contacts with Russian credit institutions, and develop international cooperation.

The representative office acts on behalf of and on behalf of the credit institution it represents. Its name must be indicated in the permission to open a representative office.

A representative office of a foreign credit institution is a separate subdivision of a foreign credit institution opened on the territory of the Russian Federation with the permission of the Central Bank of the Russian Federation.

The Bank of Russia provides the representative office with passport and visa support for the entire period of the permit issued to it, assistance in registering the residence of foreign personnel, as well as in resolving customs and other issues.

Branches and representative offices of foreign credit institutions are part of the Russian banking system of the Russian Federation. The Bank of Russia directly resolves the issue of the expediency of the participation of branches and representative offices in the banking system and their functioning on the territory of the Russian Federation. The issue of branches of foreign banks is regulated by several rules. In ch. IX “International and foreign economic activity of the Bank of Russia” of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” (Article 52), among other things, it is said that the Central Bank of the Russian Federation issues permits for the creation of credit institutions with foreign investments. It issues permission to open branches of foreign banks. Branch of a credit organization is a separate subdivision located outside the location of the credit institution and carrying out on its behalf all or part of the banking operations stipulated by the license of the Central Bank of the Russian Federation issued to the credit institution. Representation of a credit institution- this is a separate subdivision located outside the location of the credit institution, representing its interests and protecting them. Currently, there is not a single branch of a foreign credit organization in Russia. And in all developed banking systems of the West there are no branches of Russian banks. Today in Russia the share of credit institutions with a controlling stake of foreign capital is 8.1%. This indicator has decreased - at the beginning of 2000 it reached 10.6%. Such banks attract 2.3% of the funds of individuals and 10.3% of the funds of enterprises and organizations. It can be concluded that, having indicated its strategic presence in the Russian market, foreign capital continues to take a wait-and-see attitude. The situation is different with the representative offices of foreign credit institutions on the territory of the Russian Federation. In practice, there are already quite a lot of such representations. Their creation and operation procedure are determined by federal laws and regulations of the Central Bank of the Russian Federation. A representative office is created by a foreign credit institution in order to study the economic situation and the situation in the Russian banking sector, to provide consulting services to its clients, maintain and expand contacts with Russian credit institutions, and develop international cooperation. The representative office acts on behalf of and on behalf of the credit institution it represents. Its name must be indicated in the permission to open a representative office. Representative office of a foreign credit institution is a separate subdivision of a foreign credit institution opened on the territory of the Russian Federation with the permission of the Central Bank of the Russian Federation. The Bank of Russia provides the representative office with passport and visa support for the entire period of the permit issued to it, assistance in registering the residence of foreign personnel, as well as in resolving customs and other issues.

Bank representative office- an organizational unit of a bank of a financial and industrial group, which is deprived of the authority to conduct business activities on its own behalf. The key goal of banking divisions is to conduct marketing research and protect the interests of the represented bank in the territory of a foreign state.

Civil Code of the Russian Federation, Part 1. Art. 55, Art. 182-184 defines the procedure for registration, operation and liquidation of representative offices of legal entities / individuals.

Mandatory conditions for the functioning of representative offices

The specifics of the functioning of banking representative offices are concluded in the following features:

• cannot act on their own behalf;
• cannot conclude contracts of sale, transfer of property for rent, donations, etc.;
• defend the interests of representatives;
• cannot independently hire staff on a permanent basis;
• cannot enter into preliminary agreements and contracts that require the personal participation of the founders or senior management.

Algorithm for opening a representative office

Banks can enter new markets by opening their own representative offices in foreign countries.

Directly in Russia, a foreign bank that plans to open a representative office on the territory of the Russian Federation must fulfill the following conditions:

• indicate in the application for opening reliable contact information and staffing;
• have a working space, regardless of who owns it: the tenant or the represented bank;
• provide data on the management of the representative office, which is planned to be opened;
• present notarized power of attorney;
• submit brief information about the intended purpose of the representative office, the scale of planned activities, long-term plans;
• provide a printed impression and sample signatures of the founders / management for verification of compliance.

If these requirements are met, a foreign bank may obtain permission to open a representative office in Russia. Authorized state bodies have the right to set a limit on the number of representative offices of a particular foreign bank in a certain territory. existing representative offices is carried out by the parent bank in accordance with the statutory documents or the revision of the charter and memorandum of association.

The difference between representative offices and branches, offices and exchange offices

The Bank has the right to create additional organizational units, such as branches, new offices, representative offices, exchange offices, sales and logistics centers, if this does not contradict the current legislation.

Organizational structures can be external and internal. External divisions for the bank, as a rule, are branches and representative offices. For them, ceteris paribus, it is also important to coordinate their activities with the legislation of the state in which they are located.

Since they operate in the same economic and legal field, banking representative offices are often confused with branches and subsidiaries. This is a serious misconception from a legal as well as economic point of view. Consider the main similarities and differences between the mentioned banking units.

Comparative characteristics of branches and representative offices of the banking structure

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Legal status of foreign

credit institutions in the Russian Federation

The legal norms regulating the procedure for opening representative offices and branches by foreign credit organizations in the territory of a given state, their participation in the authorized capital of national banks, as well as the creation of subsidiary credit organizations by them are part of international banking law. Such norms act, as a rule, as national substantive legal norms regulating banking legal relations complicated by a foreign element, i.e. direct rules. This article is devoted to the analysis of such norms in Russian law.

N.Yu. YERPYLEVA,

Doctor of Laws, Master of Laws, State University - You/University School of Economics

The banking system is a key link and a cornerstone of the financial system of the state. Its role and importance in the socio-economic development of the country are determined by the macroeconomic functions that it performs, and above all by the function of providing a stable and reliable payment mechanism that mediates the movement of financial flows and thus makes it possible to carry out the entire volume of economic activity in the state.

The banking system can perform its immanent functions only under conditions of adequate legal regulation. When formulating legal norms, it is necessary to take into account the need for comprehensive and comprehensive regulation of both the banking system and the banking activities carried out within its framework. To do this, first of all, it is necessary to take into account the basic configuration and elemental structure of the banking system, which are characterized by a poly-subject composition.

The poly-subject composition reflects the elemental structure of the second level of the Russian two-level banking system, the first level of which is represented by the Central Bank of the Russian Federation as a backbone element. Polysubjectivity can be understood not only as the presence of various organizational and legal forms and composition of participants in credit institutions, but also as the functioning of foreign capital in the national banking system in the form of foreign credit institutions1. It should also be taken into account that national credit organizations (hereinafter referred to as CBs) take part in international banking activities by opening their representative offices and branches abroad, as well as participating in the authorized capital of foreign banks and in the creation of foreign subsidiary credit organizations.

It should be noted that the foundations of the legal status of foreign credit institutions in the Russian banking system, as well as the foundations for the participation of Russian banks in banking systems abroad, are laid down in

1 See about this in more detail: Sizov S.Yu. The subject and method of regulation of the legal institution of foreign investment (on the example of foreign investment in the banking system). - Banking Law, 2003, No. 3.

banking laws. Yes, Art. 52 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" dated July 10, 2002, as amended on December 29, 2006, states that the Bank of Russia issues permits for the establishment of credit institutions with foreign investment and branches of foreign banks, and also accredits representative offices of credit institutions of foreign states on the territory of the Russian Federation. At the same time, Art. 35 of the Federal Law "On Banks and Banking Activities" dated February 3, 1996, as amended on December 29, 2006, says that a Russian credit institution may, with the permission of the Bank of Russia, establish branches in a foreign state, and after notifying the Bank of Russia - representative offices, and may also, with the permission and in accordance with the requirements of the Bank of Russia, have subsidiaries in the territory of a foreign state. Unfortunately, the issues of the legal status of foreign KOs in the Russian banking system have not been widely discussed in the legal literature.

Legal Status of Representative Offices of Foreign Credit Institutions in Russia

According to the current Russian legislation, foreign credit organizations have the right to open their representative offices in Russia. Their legal status is regulated by the Regulation “On the procedure for opening and operating representative offices of foreign credit institutions in the Russian Federation”, approved by Order of the Central Bank of the Russian Federation No. 02-437 dated October 7, 1997.2 The main features of the legal regime for the functioning of these representative offices in Russia are as follows.

1. Status of the representative office. A representative office is a separate subdivision of a foreign CI that has received permission from the Bank of Russia to open in accordance with Russian legislation and is opened on the territory of Russia. It is created in order to study the economic situation and the state of affairs in the banking sector of Russia in order to provide consulting services to its clients, maintain and expand contacts with Russian CIs, and develop international cooperation. The representative office is not a legal entity, does not have the right to engage in commercial activities and acts on behalf of and on behalf of the KO it represents, the name of which is indicated in the permission to open a representative office. The representative office is not an economic entity and does not receive profit from its activities. His expenses are financed by a foreign credit institution (clauses 1.1.-1.4.).

2. Opening a representative office. In accordance with the applications received, the Central Bank of the Russian Federation gives permission to open representative offices in Russia to foreign CIs that have been operating in their country for at least five years and have a good reputation in its banking system and have a stable financial position. This information is provided by the control authority of the host country. When deciding to open a representative office of foreign

An early CB from an offshore zone takes into account the existence of a bilateral agreement between the Bank of Russia and the national (central) bank of the country of origin of this organization, which provides for the exchange of information in the field of banking supervision. When making a decision on the accreditation of a representative office, the nature of bilateral relations between Russia and the country of origin of the KO may also be taken into account (clause 2.1.).

A foreign credit institution interested in opening a representative office in Russia submits to the Department for External and Public Relations a written application addressed to the Chairman of the Bank of Russia, which sets out the purpose of opening a representative office.

The application must be accompanied by:

Charter of a foreign credit institution;

Certificate of its registration or an extract from the bank register;

Consent of the control body of the country of residence of the foreign KO;

Power of Attorney for the person conducting negotiations on the issue of opening a representative office;

Curriculum vitae for the head of the representative office and his deputy;

the latest annual report of the foreign KO;

Certificate of foreign KO with information about the structure of its governing bodies;

consent of the landlord to provide premises for the representative office (letter of guarantee or lease agreement);

position on representation;

a copy of the payment order for the transfer of funds for issuing a permit to the account of the Bank of Russia in Vneshtorgbank of the Russian Federation.

All documents must be submitted in duplicate. Documents executed in a foreign language are subject to translation into Russian, notarization and legalization by Russian consular offices abroad or affixing an apostille (clause 2.2.).

It is forbidden to open representative offices on the territory of diplomatic institutions. All foreign employees of the representative office are required to undergo personal accreditation with the Bank of Russia and receive service cards. Candidates for the position of head and deputy head of a representative office must have a legal or economic education or work experience in the banking sector for at least two years. The head of a representative office and his deputy are not allowed to simultaneously work in a Russian bank established with the participation of a foreign CI that opened the said representative office. After receiving and checking all the required documents, the above-mentioned department shall, in accordance with the established procedure, agree on the issue of opening a representative office and accrediting its foreign personnel (clause 2.4.-2.7.).

2 Bulletin of the Bank of Russia, 1997, No. 76. Banking No. 42007

The permission to open a representative office is signed by the Chairman of the Bank of Russia or a person replacing him. The permit shall indicate: abbreviated and full, if necessary, the name of the foreign KO in Russian; the period for which the permit is issued (no more than three years); the number of employees of the representative office from among foreign citizens (as a rule, no more than two people); date of issue of the permit, number.

The issuance of a permit to open (renew the permit) a representative office may be denied in cases where: the required documents are not submitted; reported information that does not correspond to reality, as well as by decision of the Bank of Russia.

The permit becomes invalid if the representative office has not actually started working within six months from the date of its issue (clause 2.8. -2.11.).

3. Activity and reporting of the representative office to the Bank of Russia. The representative office organizes its work in accordance with the requirements of Russian legislation and instructions of the Central Bank of the Russian Federation. After obtaining a permit, it is registered in the prescribed manner with the Federal Tax Service of the Russian Federation, the Pension Fund of the Russian Federation, the Employment Fund of the Russian Federation, the Social Insurance Fund of the Russian Federation and the Medical Insurance Fund of the Russian Federation. Twice a year, the representative office reports on its activities to the Bank of Russia. Reports in three copies are submitted to the Department of External Relations for the year - before January 15 of the next year, for the first half of the year - before July 15 of the current year. The report shall indicate: data on the structure of the representative office; a brief description of the main projects carried out by a foreign KO in Russia, indicating the timing, volumes