30.01.2016, 02:18
Bank of Russia Revoked Licence from CB MTB Bank
OREANDA-NEWS. By its Order No. OD-269, dated 29 January 2016, the Bank of Russia revoked the banking licence from the Moscow-based credit institution KOMMERCHESKY MEZHREGIONALNY TRASTOVY BANK, limited liability company, or LLC CB MTB Bank (Registration No. 2493) from 29 January 2016.
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, equity (capital) adequacy ratios below 2 per cent, inability to meet creditors' claims on monetary obligations, and application of supervisory measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
LLC CB MTB Bank implemented high-risk lending policy and did not create loan loss provisions adequate to risks assumed. The bank's equity (capital) adequacy was reduced to a critical level. Due to the loss of liquidity the credit institution failed to meet its obligations to creditors on a timely basis. Besides, the bank was involved in conducting large-value dubious transit operations.
The management and owners of the credit institution did not take effective measures to normalise its activities. Under these circumstances, Bank of Russia performed its duty on the revocation of the banking licence from the credit institution in accordance with Article 20 of the Federal Law 'On Banks and Banking Activities'.
By its Order No. OD-270, dated 29 January 2016, Bank of Russia has appointed a provisional administration to LLC CB MTB Bank for the period until the appointment of a receiver pursuant to the Federal Law 'On the 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.
LLC CB MTB Bank 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 liabilities on deposits of households determined in accordance with the legislation. The said Federal Law stipulates the insurance premium as one hundred per cent reimbursement of the entire deposit to bank depositors, including individual entrepreneurs, but not more than 1.4 million rubles in aggregate per depositor.
According to the financial statements, as of 1 January 2016, LLC CB MTB Bank ranked 329th 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, equity (capital) adequacy ratios below 2 per cent, inability to meet creditors' claims on monetary obligations, and application of supervisory measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)'.
LLC CB MTB Bank implemented high-risk lending policy and did not create loan loss provisions adequate to risks assumed. The bank's equity (capital) adequacy was reduced to a critical level. Due to the loss of liquidity the credit institution failed to meet its obligations to creditors on a timely basis. Besides, the bank was involved in conducting large-value dubious transit operations.
The management and owners of the credit institution did not take effective measures to normalise its activities. Under these circumstances, Bank of Russia performed its duty on the revocation of the banking licence from the credit institution in accordance with Article 20 of the Federal Law 'On Banks and Banking Activities'.
By its Order No. OD-270, dated 29 January 2016, Bank of Russia has appointed a provisional administration to LLC CB MTB Bank for the period until the appointment of a receiver pursuant to the Federal Law 'On the 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.
LLC CB MTB Bank 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 liabilities on deposits of households determined in accordance with the legislation. The said Federal Law stipulates the insurance premium as one hundred per cent reimbursement of the entire deposit to bank depositors, including individual entrepreneurs, but not more than 1.4 million rubles in aggregate per depositor.
According to the financial statements, as of 1 January 2016, LLC CB MTB Bank ranked 329th by assets in the Russian banking system.
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