Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;
www.cbr.ru

Information Notice

Extending moratorium on meeting claims of creditors of PJSC Bank VVB

Guided by Article 189.38 of Federal Law No. 127-FZ, dated 26 October 2012, ‘On Insolvency (Bankruptcy)’, the Bank of Russia extended the moratorium on meeting claims of creditors of PJSC Bank VVB (Reg. No. 1093) for a period of three months but no longer than the period of activity of the provisional administration to manage PJSC Bank VVB.

PJSC Bank VVB is a member of the deposit insurance system. An insured event shall be deemed as occurring starting from the date the moratorium on meeting claims of creditors of PJSC Bank VVB (12 December 2017), which shall also be the date used for calculation of insurance indemnity for the bank’s liabilities in foreign currency.

The extension of the moratorium on meeting creditor claims, effective from 12 March 2018, not being an insured event, shall not cancel the obligation of the State Corporation Deposit Insurance Agency to pay out insurance indemnity, which arose in connection with the moratorium imposed by Bank of Russia Order No. OD-3473, dated 12 December 2017.

The Deposit Insurance Agency will continue to pay out insurance indemnity for deposits (deposit accounts) with PJSC Bank VVB in accordance with Clause 2 Part 1 Article 8 of the Federal Law ‘On the Insurance of Household Deposits with Russian Banks’ - imposition by the Bank of Russia of the moratorium on meeting creditor claims.

Information on the agent banks authorised to pay an insurance indemnity can be found on the official website of the State Corporation Deposit Insurance Agency (www.asv.org.ru).

13 March 2018

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