OREANDA-NEWS. Due to incompliance by the Moscow-based credit institution Commercial Bank Alta-Bank, closed joint-stock company, or CB Alta-Bank CJSC with federal banking laws and Bank of Russia regulations, inability to meet creditors’ claims on monetary obligations, considering repeated application within a year of measures stipulated by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, guided by Article 19, Clause 6 of Part 1 and clause 4 of Part 2 of Article 20 of the Federal Law ‘On Banks and Banking Activities’ and Part 11 of Article 74 of the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, the Bank of Russia took a decision (Order No. OD-402, dated 8 February 2016) to revoke the banking licence from the Commercial Bank Alta-Bank, closed joint-stock company, (Bank of Russia Registration No. 2269, date of registration — 29 January 1993) from 8 February 2016.