On revocation of banking licence and appointment of provisional administration
By its Order No. OD-62, dated 20 January 2015, the Bank of Russia revoked the banking licence from the Saransk-based credit institution Commercial Bank Intercapital-Bank, limited liability company, or CB Intercapital-Bank LLC (Registration No. 2706, the city of Saransk) from 20 January 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 within a year by the credit institution 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’, taking into account repeated application within a year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.
CB Intercapital-Bank LLC failed to meet the requirements of the AML-FT regulations in terms of timely and full submission to the authorised body of transaction data subject to mandatory control. Besides, the credit institution was involved in dubious transactions to siphon abroad money in significant amounts.
By its Order No. OD-63, dated 20 January 2015, the Bank of Russia has appointed a provisional administration to CB Intercapital-Bank LLC 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 federal laws, the powers of the credit institution’s executive bodies are suspended.
According to the financial statements, as of 1 December 2014, CB Intercapital-Bank LLC ranked 602nd by assets in the Russian banking system.
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