Stock market quotes, forex, financial news, forex tools – money-investing.com

The Central Bank has appointed a temporary administration in the Military-Industrial Bank

 Breaking News

The Central Bank has appointed a temporary administration in the Military-Industrial Bank

The Central Bank has appointed a temporary administration in the Military-Industrial Bank
September 16
12:30 2016

The Russian Central Bank has appointed a temporary administration in the Moscow Military-Industrial Bank for the term of six months. This is stated in the order of the Central Bank, the text of which is on the official website of the Bank.

The order reads: «Since 16 September, 2016 the function of the “interim administration for the management of the Military-Industrial Bank for a period of six months has been imposed on the State Corporation” Deposit Insurance Agency.”

In addition, The Central Bank of Russia has slightly held the powers of the bank’s management bodies. What is more, the regulator has imposed restrictions on the rights of the bank’s founders.

Last week we got the news that the Central Bank had left the Military-Industrial Bank without the access to the system of receiving payments BESP (Bank Electronic Speed Payments). The Military-Industrial Bank has restricted the cash withdrawals from deposits and bank cards, and it no longer receives funds of citizens.

The Head of the Board of Directors Yuri Koltok at the Military- Industrial Bank told to “Vedomosti” that the Central Bank had virtually frozen the work of the credit institution. The Military-Industrial Bank has had no opportunity to increase the balance of any accounts of individuals. To carry out the issuance of the funds from the deposit, the bank has to make the transfer from the deposit account to the current one. Also, the bank cannot allow interest on deposit, credit the salaries and pensions. In addition, the Bank is  limited on the turnover of funds on the accounts of legal entities (not more than 6 billion rubles per month).

According to the Head of the Board of Directors, the bank has asked the Central Bank to explain what had happened, but the regulator had given no answer yet. The Military-Industrial Bank has submitted a declaration to the Arbitration Court of Moscow of recognition of the Bank of Russia actions to be illegal.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment