On revocation of banking licence of credit institution ICB and appointment of provisional administration
By its Order No. OD-4699, dated 22 December 2016, the Bank of Russia revoked the banking licence from the Moscow-based credit institution Commercial Bank Interstate Clearing Bank (Limited Liability Company), or CB ICB LLC (Registration No. 2543) from 22 December 2016.
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 breaches of Articles 6 and 7 (except for Clause 3 of Article 7) of Federal Law ‘On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism’, non-compliance with Bank of Russia regulations related to the said Federal Law and because of the application of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’, taking into account the real threat to the interests of creditors and depositors.
CB ICB LLC violated the laws and Bank of Russia regulations on countering the legalisation (laundering) of criminally obtained incomes and the financing of terrorism by failing to timely and properly provide information to the authorised body. Moreover, the credit institution was involved in suspicious operations. The management and owners of the bank did not take effective measures to bring its activities back to normal and under such circumstances the Bank of Russia decided to remove CB ICB LLC from the banking market.
By its Order No. OD-4700, dated 22 December 2016, the Bank of Russia appointed a provisional administration to CB ICB LLC for the period until the appointment of a receiver pursuant to the Federal Law ‘On Insolvency (Bankruptcy)’ 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.
CB ICB LLC is a member of the deposit insurance system. The revocation of the banking licence is an insured event as stipulated by Federal Law No.
According to the financial statements, as of 1 December 2016, CB ICB LLC LLC ranked 487th by assets in the Russian banking system.
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22.12.2016 00.00.00