On 17 July 2009, the Russian President signed Federal Law No. 168-FZ amending Federal Law No. 173-FZ "On Additional Measures for the Support of Financial System of the Russian Federation," dated 13 October 2008. The Law entered into force on 22 July 2009.

Federal Law No. 173-FZ entitles Vnesheconombank (VEB) to grant unsecured subordinated loans to Russian banks that meet the established criteria, until 31 December 2009. Loans may be granted in an aggregate amount not exceeding the amount of subordinated loans granted, and/or the charter capital contributions made by third parties (such as the bank's shareholders) after 1 October 2008.

The amendments allow VEB (until 31 December 2010) to grant subordinated loans to banks, which have previously received subordinated loans on the above terms, in an amount equal to three times the amount of subordinated loans granted, and/or charter capital contributions made by third parties after 1 October 2008.

The amendments also reduce the total amount of funds of the Fund for National Welfare deposited with VEB for granting subordinated loans (RUB450 billion (about US$14.5 billion)) by RUB40 billion (about US$1.3 billion), released for granting loans to the Agency for Housing Mortgage Lending.