OREANDA-NEWS. December 16, 2008. CBR is to extend the validity of collateral-free loans to 12 months, Russian PM Vladimir Putin noted. "This morning we agreed on this issue with CBR. The central bank confirmed it’s prepared to grant collateral-free loans for a term of up to 12 months" – he said. Putin emphasized that for this purpose "amendments should be made to the Federal Law "On the Central Bank of Russia" as soon as possible".