Bank of Russia to compile Lombard list factoring in limited disclosure of information by securities issuers

The Bank of Russia Board of Directors decided to stop including securities issued by residents of the Russian Federation with effect from 1 January 2025 if the issuers limit their information disclosures:

to a greater extent than permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations;

to an extent permitted by federal laws, legal acts of the President of the Russian Federation and the Government of the Russian Federation, and Bank of Russia regulations but the issue or the issuer of bonds has less than two credit ratings above ?-(RU) / ruA- / A-.ru / ?-|ru| assigned by different credit rating agencies, i.e. ACRA (JSC) / JSC Expert RA / NCR / NRA LLC (this condition is inapplicable to disclosures of information on persons entitled to dispose of shares (stakes) in the issuer’s authorised capital directly or indirectly, beneficial owners, and/or management bodies).

Bonds of these issuers will be excluded from the Lombard list from 1 June 2025.