Bank of Russia: On revocation of banking licence (4/8/2016)
OREANDA-NEWS. Due to the failure by the credit institution Joint-Stock Company FIA-BANK or JSC FIA-BANK (Togliatti, Samara Region), to comply with federal banking laws and Bank of Russia regulations, the fall of the bank’s all capital adequacy ratios below 2%, the drop of its equity capital below the minimum amount of the authorised capital established as of the date of state registration of the credit institution and also due to the repeated application against the bank of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’ over the past year, and guided by Article 19, Clause 6 of Part 1 and Clauses 1, 2 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 decided (Order No. OD-1179, dated 8 April 2016) to revoke the banking licence from the credit institution Joint-Stock Company FIA-BANK (Bank of Russia Registration No. 2542, date of registration — 25 October 1993) from 8 April 2016.