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

The Central Bank of the Russian Federation has stopped the operations of three Russian banks

 Breaking News

The Central Bank of the Russian Federation has stopped the operations of three Russian banks

The Central Bank of the Russian Federation has stopped the operations of three Russian banks
September 19
10:30 2016

It has become known from the official report of the Central Bank of the Russian Federation that three banks have become unable to carry out banking operations. On 19 September the regulator has withdrawn the license of these banks. They are Rosinterbank (Moscow), Financial Industrial Bank (Moscow) and Regional Commercial Bank (RCB, Ulyanovsk region, Dimitrovgrad).

Rosinterbank

The Bank of Russia informs: “With poor assets quality Rosinterbank inadequately assessed taken in connection with this risks. The proper assessment of the credit risks and the objective reflection of the assets value in the credit institution reporting have led to the complete loss of its own funds (capital). “

Also, Rosinterbank did not follow the laws and regulations of the Central Bank acts in the sphere of combating the money laundering got from crime and terrorism financing. In particular, the credit organization did not provide timely and quality information about violations of the authorized body.

The Central Bank said: “The Interim Administration on Rosinterbank management, whose functions were assigned to the Deposit Insurance Agency (DIA), faced with the facts of serious obstructing of its activities from the part of the bank management. Namely, the bank management hasn’t transferred the electronic databases and legal documents for assets of Rosinterbank “.

The total investment of the bank’s individuals was equal to 55 billion rubles in the late August. Rosinterbank participates in the deposit insurance system. According to the information from the Central Bank, as of 1 September 2016 the bank occupies the 68th place in terms of assets in the Russian banking system.

Financial Industrial Bank

The regulator informs that the Financial Industrial Bank fulfilled the obligations to creditors untimely because of the poor quality of assets that did not generate enough cash flow.

The bank will have a temporary administration until the appointment of the bankruptcy trustee or a liquidator. The Financial Industrial Bank is a member of the deposit insurance system.

According to the Bank of Russia, as of 1September, 2016 the bank occupies the 94 th place in the Russian banking system in terms of assets.

Regional Commercial Bank

“The RCB failed to comply with legal requirements in the area of counteraction to legalization (laundering) of earnings got from crime and financing of terrorism in terms of the provision of the reliable information on transactions to the authorized body. This is about the operations which must be mandatory controlled, “, – says the official message of the regulator.

In addition, the bank’s internal control rules in this area did not meet the requirements of the CBR. Under conditions of the poor asset quality the Regional Commercial bank gave an inadequate assessment of the taken credit risks. The management and the owners of the bank have not taken the necessary measures to normalize the activity of the bank.

The bank will have a temporary administration until the appointment of the bankruptcy trustee or a liquidator.

The bank occupied the 404 th place in the Russian banking system.

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