On financial resolution measures applied to OJSC FUNDSERVICEBANK

On 30 April 2015, the Bank of Russia Board of Directors approved amendments to the plan for participation of the state corporation Deposit Insurance Agency in preventing bankruptcy of OJSC FUNDSERVICEBANK.

JSC JSCB NOVIKOMBANK will participate in the resolution of OJSC FUNDSERVICEBANK.

The participation plan provides for transferring a part of the Bank’s liabilities to the largest creditor, the Federal Space Agency, in the amount of 27 billion rubles into a 10-year subordinated deposit.

At the same time the Deposit Insurance Agency will provide financial aid to OJSC FUNDSERVICEBANK in the form of a 10-year loan in the amount of 39 billion rubles out of the Bank of Russia loan.

The implementation of these measures will create conditions required for the Bank’s financial resolution and complete recovery of its customer servicing.

The reference to the Press Service is mandatory if you intend to use this material.

30.04.2015 00.00.00