On May 14, 2025, the Resolution of the Government of the Russian Federation № 608 dated 08.05.2025 (hereinafter - “Resolution”) was published on the Official Portal of Legal Information. It establishes the threshold values of the assets of financial organizations supervised by the Bank of Russia; exceeding these amounts, organizations shall obtain the prior consent of the Federal Antimonopoly Service of Russia (hereinafter - “FAS of Russia”) is required.
The following thresholds are established for the purposes of transactions and actions under Article 27 and Section 1 of Article 29 of the Federal Law “On Protection of Competition” (hereinafter - “Competition Protection Law”):
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100 billion rubles - in relation to non-state pension funds;
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32 billion rubles - in relation to credit organizations;
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3 billion rubles - in relation to microfinance organizations;
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1.5 billion rubles - in relation to insurance organizations (with the exception of insurance medical organizations);
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600 million rubles - in relation to management organizations;
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500 million rubles - in relation to credit consumer cooperatives;
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450 million rubles - in relation to brokers;
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400 million rubles - in relation to insurance medical organizations;
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200 million rubles - in relation to insurance brokers, professional participants in the securities market who have a licence to carry out activities involving the keeping of a register of securities owners, depositaries, trade organizers, clearing organizations and pawnbrokers;
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100 million rubles - in relation to mutual insurance companies, management companies of investment funds, unit investment funds, non-state pension funds, specialized depositories of investment funds, unit investment funds, non-state pension funds, forex dealers.
The following thresholds are provided for the cases stipulated by Section 1.1 of Article 29 of the Competition Protection Law, i.e. when a financial organization acquires shares (participatory shares), assets or rights of another financial organization of the same type:
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25 trillion rubles - in relation to credit organizations;
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300 billion rubles - in relation to insurance organizations (except for insurance medical organizations);
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2 billion rubles - in relation to insurance brokers.
There is also a mandatory approval by the FAS of Russia of a transaction (several transactions) whereby a person (group of persons) acquires assets of a financial organization (other than monetary funds) in the amount of 10 percent or more of the value of assets according to the latest balance sheet of the financial organization.
To assess the compliance of transactions and operations with the established criteria, the values of the assets, as well as the total value of assets of financial organizations are considered according to their balance sheets as of the last reporting date preceding the date of submission of the application. The value of assets of credit organizations according to the latest balance sheets is determined on the basis of the balance sheet data (under published form).
The Resolution enters into force on September 1, 2025. The established threshold values will remain valid until September 1, 2031.