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Notes




These Tariffs apply only to operations within the framework of common practice. In this connection the Bank of Moscow can charge special commissions for additional services brought to the notice of the customer. The tariff may be modified or amended with prior notice of the customers.

  1. The Bank shall charge interest for the correspondent bank on the balance of the Loro account in foreign currency at the beginning of each operation day:
    • On the equivalent of up to US $ 50 000 — 0 % per annum (the US $ equivalent of the relevant amount to be defined at the exchange rate of the Bank of Russia as of the day the interest is charged);
    • On the equivalent of US $ 50 000, inclusive and above — 0.05 % per annum.

    The interest so charged shall be paid to the correspondent bank monthly, not later than the first working day of the month following the month of account. In case of interest payment arrears the Bank shall pay to the correspondent bank a penalty of 0.01 % of the unpaid amount for each day of the delay.

  2. The Bank shall charge interest for the correspondent bank on the balance of the Loro account in Russian rubles at the beginning of each operation day at a rate of 3 % of the refinancing rate of the Bank of Russia for each relevant day.
    The interest so charged shall be paid to the correspondent bank monthly, not later than the last working day of the current month. In case of interest payment arrears the Bank shall pay to the correspondent bank a penalty of 0.01 % of the unpaid amount for each day of the delay.

  3. In case the expenses of foreign banks related to the operation are charged to the account of the applicant customer the Bank commission shall be increased by the amount of these expenses according to the Tariffs of the relevant foreign banks. Mail and telecommunication expenses shall be charged additionally
  4. In case the Bank issues an obligation for plus-minus 10% the commission shall be charged on the amount increased by 10%.
  5. If the LIBOR rate is used in contractual relations between the Bank and the customer it shall mean the 30 days LIBOR rate in the currency of the account.
  6. The interest on the money assets placed on the non-resident bank coverage accounts, letters of credit of the Bank of Moscow shall be calculated as follows. The interest rate shall equal the rate approved by the Finance Committee valid at the time of placing the cash cover for the placement of rouble/currency assets of legal entities in deposits, notes of the Bank of Moscow for a period equalling 3/4 of the validity of the letter of credit, but not more than a one month money placement rate and not less than the rate used to charge interest on the correspondent accounts of non-resident banks.
  7. Beginning with 01.01.2004 a 18% VAT rate shall apply.
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