27.02.2016, 01:58
Bank of Russia Revoked Licence from CB Raschetny Dom
OREANDA-NEWS. By Order No. OD-676, dated 26 February 2015, the Bank of Russia revoked the banking licence of the Moscow-based credit institution Commercial Bank Raschetny Dom, limited liability company (CB Raschetny Dom LLC) (Registration Number: 3350) from 26 February 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, repeated violations over the past year of the requirements stipulated by Articles 6 and 7 (except for Clause 3 of Article 7) of the Federal Law 'On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism', as well as Bank of Russia regulations issued in compliance with the said Federal Law and due to the application of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)' taking into account the real threat posed to creditors' interests.
CB Raschetny Dom LLC implemented a high-risk lending policy connected with the placement of funds in low-quality assets. As a result of the fulfillment of the supervisor's requirements to make an adequate assessment of the risks assumed and a reliable recognition of the bank's assets value there were grounds for implementing measures to prevent the bank's insolvency (bankruptcy).
Moreover, CB Raschetny Dom LLC failed to comply with the requirements of law and Bank of Russia regulations on anti-money laundering and combatting the financing of terrorism with regard to submitting information to the authorised body on time and in full. The credit institution was also involved in suspicious transit operations. The management and owners of the bank failed to take effective measures to bring the situation back to normal.
By its Order No. OD-677, dated 26 February 2016, the Bank of Russia has appointed a provisional administration to CB Raschetny Dom 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 compliance with federal laws the powers of the credit institution's executive bodies have been suspended.
According to reporting data, as of 1 February 2016, CB Raschetny Dom LLC ranked 661st in the Russian banking system in terms of assets.
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, repeated violations over the past year of the requirements stipulated by Articles 6 and 7 (except for Clause 3 of Article 7) of the Federal Law 'On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism', as well as Bank of Russia regulations issued in compliance with the said Federal Law and due to the application of measures envisaged by the Federal Law 'On the Central Bank of the Russian Federation (Bank of Russia)' taking into account the real threat posed to creditors' interests.
CB Raschetny Dom LLC implemented a high-risk lending policy connected with the placement of funds in low-quality assets. As a result of the fulfillment of the supervisor's requirements to make an adequate assessment of the risks assumed and a reliable recognition of the bank's assets value there were grounds for implementing measures to prevent the bank's insolvency (bankruptcy).
Moreover, CB Raschetny Dom LLC failed to comply with the requirements of law and Bank of Russia regulations on anti-money laundering and combatting the financing of terrorism with regard to submitting information to the authorised body on time and in full. The credit institution was also involved in suspicious transit operations. The management and owners of the bank failed to take effective measures to bring the situation back to normal.
By its Order No. OD-677, dated 26 February 2016, the Bank of Russia has appointed a provisional administration to CB Raschetny Dom 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 compliance with federal laws the powers of the credit institution's executive bodies have been suspended.
According to reporting data, as of 1 February 2016, CB Raschetny Dom LLC ranked 661st in the Russian banking system in terms of assets.
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