Translation. Region: Russian Federal
Source: Central Bank of Russia
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Bank of Russia suggests introducing A set of requirements for decisions on issuing credit digital financial assets (DFAs). This is a new product that banks are issuing using a portion of their loan portfolio.
Credit-based digital financial instruments (DFIs) enable investors to receive payments related to payments under a bank's loan agreement. By purchasing such an instrument, the investor assumes the risk of default on the loan, which was originally assumed by the lender. Therefore, when issuing credit-based digital financial instruments (DFIs), the bank must provide the investor with information about the loan agreement, including its number, loan amount, interest rate, whether the agreement allows assignment to a third party, and disclose information about the borrower.
With this information, an investor can make more informed decisions when purchasing this type of digital financial asset.
The document also expands the list of information required in the decision to issue any digital financial assets. The issuer's information must include a link to the website where the issuer discloses the information. If the issuer has a credit rating, a link to the website of the credit rating agency that assigned it must be included.
The public discussion of the draft Directive will last until October 10, 2025, inclusive.
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