OREANDA-NEWS. December 18, 2008. The State Duma’s Financial Market Committee recommended at its Wednesday meeting approving in the second reading amendments to Articles 46 and 76 of the law “On the Central Bank of the Russia Federation” which authorize the Bank of Russia to control banks which have received state support. Specifically, the amendment to Article 46 was approved, which calls for extending the period of collateral-free loans issued by the Central Bank to Russian banks from six to twelve months. In addition, Duma members specified a number of statutory provisions of the law related to control over banks on the part of the Bank of Russia. The draft law does not apply to banks which received collateral-free loans and on whose accounts MinFin is entitled to place deposits. Banks in the charter capitals of which the government or CBR hold stakes, enabling the authorities to appoint nominees from the government or CBR to their management, will also not be covered by the draft law. According to the draft law, the procedure for providing information to the Bank of Russia about the activities of these banks should be set by their boards of directors or supervisory boards. The Bank of Russia is entitled to appoint representatives to the banks in cases where banks receive a credit (loan) in foreign currency from Vnesheconombank (VEB) and when banks receive a subordinated loan from VEB in accordance with the law “On Additional Measures to Support the Financial System of the Russian Federation”.