OREANDA-NEWS. In Samara within the framework of meeting called the "Creation and organisation regional systems for major repairs of blocks of flats" the Bank of Moscow presented its new service for co-financing of house major repairs, i.e. a special account to form major repairs funds.

The Bank of Moscow was one of the first Russian banks to announce its readiness to open special accounts in accordance with Federal Law No. 271 — ФЗ dated 25 December 2012. Under said law the house owners will be able to choose where to transfer funds aimed at major repairs, i.e. either to the regional operator or to a special accounts to save money for major repairs. Special accounts may be opened only in banks with their authorised capital being at least 20 billion RUR. According to the opinion of the participants of the meeting, the offer ofg the Bank of Moscow makes the conditions of work with major repair funds transparent and clear and will permit the house owners to choose the way to form funds for major repairs of their houses.

"Today the Bank of Moscow is ready to open special accounts aimed to form major repairs funds. Control over the purpose-oriented spending of the funds will be exercised by the Bank thus the house owners will not have to worry about their money. And the use of the financial instrument called "Accrual of interest on the minimum balance" will help to have an additional source of forming the major repair fund" stated Tatiana Protopopova, Head of the Corporate Business Transaction Product Department of the Bank of Moscow.

The work of the meeting that took place from 5 to 7 August was devoted to the implementation of the provisions of the RF Housing Code pertaining to major repairs of the common property of blocks of flats. Over 300 representatives of state authorities and public organisations from 81 constituent entities of the Russian Federation took part in the meeting. The Housing and Utility Structure Reformation Fund and the Government of Samara Area were the organisers of the meeting. Konstantin Tsitsin, General Director of the Housing and Utility Structure Reformation Fund, and Nikolay Merkushkin, Governor of Samara Area, personally attended the meeting.