10.11.2015, 23:37
Bank of Russia Revoked Licence from Mezhregionbank
OREANDA-NEWS. By its Order No. OD-3101, dated 10 November 2015, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Commercial Bank Mezhregionbank, limited liability company or CB MRB LLC (Registration No. 1059) from 10 November 2015.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because of the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, capital adequacy below 2%, decrease in equity capital below the minimal amount of the authoruised capital established as of the date of the state registration of the credit institution, and taking account of repeated application over the past year of supervisory measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
CB MRB LLC implemented high-risk lending policy connected with placement of funds into low-quality assets. As a result of meeting the supervisor's requirements on creating provisions adequate to the risks assumed, the credit institution lost its equity capital.
The management and owners of the bank did not take measures to normalise its activities. In these circumstances, pursuant to Article 20 of the Federal Law 'On Banks and Banking Activities', the Bank of Russia revoked the banking licence from CB MRB LLC.
By its Order No. OD-3102, dated 10 November 2015, the Bank of Russia has appointed a provisional administration to CB MRB LLC for the period until the appointment of a receiver pursuant to the Federal Law 'On Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In accordance with federal laws, the powers of the credit institution's executive bodies are suspended.
CB MRB LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No. 177-FZ 'On Insurance of Household Deposits with Russian Banks' regarding the bank's obligations on deposits of households determined in accordance with the legislation. This Federal Law provides for the payment of insurance indemnity to the bank's depositors, including individual entrepreneurs, in the amount of 100% of their balances but not exceeding the total of 1.4 million rubles per depositor.
According to the financial statements, as of 1 October 2015, CB MRB LLC ranked 502nd by assets in the Russian banking system.
The Bank of Russia took such an extreme measure - revocation of the banking licence - because of the credit institution's failure to comply with federal banking laws and Bank of Russia regulations, capital adequacy below 2%, decrease in equity capital below the minimal amount of the authoruised capital established as of the date of the state registration of the credit institution, and taking account of repeated application over the past year of supervisory measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
CB MRB LLC implemented high-risk lending policy connected with placement of funds into low-quality assets. As a result of meeting the supervisor's requirements on creating provisions adequate to the risks assumed, the credit institution lost its equity capital.
The management and owners of the bank did not take measures to normalise its activities. In these circumstances, pursuant to Article 20 of the Federal Law 'On Banks and Banking Activities', the Bank of Russia revoked the banking licence from CB MRB LLC.
By its Order No. OD-3102, dated 10 November 2015, the Bank of Russia has appointed a provisional administration to CB MRB LLC for the period until the appointment of a receiver pursuant to the Federal Law 'On Insolvency (Bankruptcy)' or a liquidator under Article 23.1 of the Federal Law 'On Banks and Banking Activities'. In accordance with federal laws, the powers of the credit institution's executive bodies are suspended.
CB MRB LLC is a member of the deposit insurance system. The revocation of banking licence is an insured event envisaged by Federal Law No. 177-FZ 'On Insurance of Household Deposits with Russian Banks' regarding the bank's obligations on deposits of households determined in accordance with the legislation. This Federal Law provides for the payment of insurance indemnity to the bank's depositors, including individual entrepreneurs, in the amount of 100% of their balances but not exceeding the total of 1.4 million rubles per depositor.
According to the financial statements, as of 1 October 2015, CB MRB LLC ranked 502nd by assets in the Russian banking system.
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