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The President signed Federal Law On Amendments to Article 82.5 of the Federal Law On the Central Bank of the Russian Federation (Bank of Russia).
The Federal Law is aimed at providing for continued and efficient money transfer services.
Pursuant to the Federal Law, the Government of the Russian Federation, in coordination with the Bank of Russia, has the right to establish special terms for the payment of the security deposit by payment system operators that do not have national significance. The Government of Russia can also establish the rules for charging fines for failure to pay the security deposit in full or in part.
July 1, 2014