On revocation of banking licence and appointment of provisional administration
By its Order No. OD-3457, dated 10 December 2014, the Bank of Russia revoked the banking licence from the Moscow-based credit institution open joint-stock company Trade Construction Bank or OJSC TCB (registration No. 1250) from 10 December 2014.
The Bank took such an extreme measure — revocation of the banking licence — because of the credit institution’s repeated violations within a year of the requirements of Article 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’.
OJSC TCB failed to comply with the requirements of legislation on anti-money laundering and the financing of terrorism in terms of timely notification of the authorised body about the operations subject to obligatory control. At the same time, the credit institution was involved in doubtful operations connected with overseas money transfer in significant amounts.
By its Order No. OD-3458, dated 10 December 2014, the Bank of Russia has appointed a provisional administration to OJSC TCB for the period until the appointment of a receiver pursuant to the Federal law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator under Article 23.1 of the Federal law ‘On Banks and Banking Activities’. In accordance with the federal laws, the powers of the credit institution’s executive bodies are suspended.
OJSC TCB is a participant in the deposit insurance system. The revocation of the banking licence is recognized as an insured event stipulated by Federal Law No.
According to the reporting data, as of 1 November 2014, OJSC TCB ranked 494th in the Russian banking system in terms of assets.
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10.12.2014 00.00.00