MOSCOW, July 4 (RAPSI) - The State Duma has passed a third version of a Government bill that would shorten the list of banks where companies with strategic significance for Russian national security could open accounts. This would include the companies’ subsidiaries and other affiliated companies.

The changes apply to companies included on the presidential list of strategic companies, shareholding companies whose stockholders’ stance is determined by the Government and strategic enterprises covered by the Law On Foreign Investment. The bill adds shareholding companies that are directly or indirectly controlled by strategic companies to the list.

The Ministry of Finance’s draft amendments add a clause to the Law On Banks and Banking Activity that stipulates requirements for banks (where the above-mentioned companies can open their accounts). Banks opening these accounts would meet the following requirements:

•    As of January 1, 2014, the statutory capital should at least equal the specific volumes stipulated by the Government by agreement with the Central Bank;

•    The concerned banks should be directly or indirectly controlled by the Russian Central Bank or Government.

The Government may also grant this right to other banks.

Contrary to media reports last year, the amendments do not forbid state companies to open accounts with foreign bank subsidiaries. Earlier, Central Bank chief Elvira Nabiullina said the authorities would not drastically shorten the list of banks where strategic companies can open their accounts.

She noted that the proposed restrictions included 16.5 billion rouble statutory capital ceilings, and that this allowed about 50 banks to manage the assets of strategic companies. This figure is subject to change, Nabiullina said.